Hotels, Motels, and Resorts
Major damage to your property goes far beyond the physical damage, it also impacts your income and the needs of your guests. Your time should be focused on getting operations back up and running and ensuring your clientele continue to choose your property when planning their next business or vacation trip. You will not be able to do that while worrying about the property insurance claims process and the deadlines and stacks of complicated paperwork that come with it.
As your licensed public adjusters, we evaluate, document, and negotiate not only the physical damage to your property, but also the income lost from business interruption and the extra expenses that are incurred.
Our team understands the complexities of the insurance claim process and leverages our expertise to optimize your settlement.
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1
Your property just suffered serious damage and you are wondering what you need to do to expedite financial and operational recovery.
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2
You call your insurance company and wait for an adjuster to arrive, assuming you’ll receive what your insurance policy states you’re covered for. Afterall, that’s why you’ve been paying your insurance premiums all along, right?
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3
As a client of your insurance company, your claim is now a liability on its financial statements.
We Can Help
Knowing everything you possibly can about the "fine print" of your insurance policy before you have substantive dialogue with your carrier is critical. Understanding what you are covered for and how to claim it is where our experience starts to be of value.
Choosing what to say to your insurance company's adjuster and how you say it makes a dramatic difference in how much and how quickly you get paid. Globe Midwest/Adjusters International's public adjusters are experts in insurance claim negotiation.
The more you know, the better the results, so turn to the firm who has been in the field since 1924 and has the repertoire of satisfied clients to prove it.
Factors To Consider
Be sure to understand each of the following factors before engaging with the insurance company. Knowledge is the key to a successful claim outcome.
- What is my broker's/agent’s role?
- Does the adjuster work for my organization or the insurance company? Why should this be a red flag?
- Can I continue to pay my employees?
- Can I compensate employees who help with cleaning or restoration?
- Are replacement properties an option for me? Would a lease purchase strategy be beneficial?
- How quickly can I start rebuilding?
- Is the insurance company using an independent building or equipment consultant to prepare a bid? Who are these consultants and do they only work for insurance companies?
- How does my insurance policy address increased costs due to new codes? If my coverage is limited, what can I do about it?
- Does the insurance company pay for the necessary professionals to accurately evaluate my claim?
- Will the insurance company pay for a construction manager?
- What happens when the insurance company engages a forensic accountant? Who does that accountant work for?
- Does my risk manager have the requisite skill sets to negotiate a large property claim?
- What are Warranties and Protective Safeguard requirements? What do they mean, and can I still collect if I am not in full compliance?
- What is the difference between a schedule of values and a schedule of limits?
- Is there coinsurance in my policy? What does it mean?
- How is actual cash value determined? Why should I care?
- Does Title 24 and handicap access impact my claim?
- Can I recast my financial statements? If so, why?
- What is the extended period of indemnity, and how does it work?
- What are extra expenses and what can be included? Can I use extra expenses to offset shortfalls in property coverages?
- What are expediting expenses? How do they differ from extra expenses?
- How do I project lost/declined sales?
- Can I use proformas/budgets to calculate loss of income?
- Will the insurance company continue to pay franchise fees while my resort/hotel/motel is closed?
- If my restaurant is destroyed but the hotel units are not impacted, will my business interruption pay for my loss of sales due to no restaurant being available?
- If I place guests in undamaged rooms, how does it affect my business income claim? Does it create a new liability?
- What happens if I place guests in other properties I own? Does the insurance company get a credit?
The persistence of the AI team as our advocate allowed us to work through the maze of paperwork required by the carrier and to expedite resolution of our claim. AI personnel were always available to meet with my staff, whether it was during business hours, late at night, or at any time during any weekend. On every occasion that the insurance company brought in an additional "expert" to minimize our claim and drag the claim process out, you countered with an AI professional who was more than able to level the playing field for us.
Select References
- Affordable Housing Inc.
- Barrington Group Incorporated
- Bay Valley Resort
- Best Western Waterfront
- The Beztak Companies
- Boyne Highlands Resort
- Bridgman Michigan LLC
- Comfort Inn and Conference Center Westport
- Dick Rayl & Associates
- Gordon-Begin Properties
- Gremor Motor Inns
- M & D Property Management Inc.
- North Street Properties
- Ramada Inn & Conference Center
- Remax
- Stuart Avenue Inn
Who We've Helped
Since 1924 Globe Midwest/Adjusters International has helped clients secure the settlements they need to meet their financial and operational recovery goals.
Don't just take our word for it. Read statements written by members of your community.
Globe Midwest/Adjusters International employs expert public adjusters who specialize in insurance claim evaluation, documentation, and negotiation. Read how we have helped clients who were once in similar situations to yours.