Multi-Family Complexes
As the owner or property manager of a multi-family complex, the physical, financial, and emotional losses incurred in a disaster can be devastating. You do not need to be worrying about the property insurance claims process on top of caring for tenants and understanding how your insurance coverage applies to government subsidy programs and loss of income.
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 me or the insurance company? Why should this be a red flag?
- Does the insurance company pay for the necessary professionals to accurately evaluate my claim?
- Why does my loss of rents claim involve more than just submitting lease agreements?
- Do I have to rebuild on the same site? Can I buy or build elsewhere?
- Can I collect code coverage allowances if I build elsewhere?
- What are Warranties and Protective Safeguard requirements? What do they mean, and can I still collect if I am not in full compliance?
- What are the pros and cons of replacing my building versus cashing out?
- 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? Who are they working for?
- Can I compensate employees who help with cleaning or restoration?
- Can I do the repairs myself?
- Can a contractor properly negotiate my claim?
- Will the insurance company pay for a construction manager?
- Can my tenants stay in the undamaged units? If they do how does it affect my rents claim and what are the liability issues?
- Are relocation expenses for Section 8 Housing tenants covered?
- Does my policy pay for the removal/storage/disposal of my tenants’ personal property?
- Are my continuing property management fees covered?
- How does my policy address increased costs due to new codes? If my coverage is limited, what can I do about it?
- What does Title 24 and handicap access mean to me and my claim?
- Does my insurance policy allow green building upgrades?
- How do I deal with lead and asbestos? What if my coverage is limited?
- Should I have concerns as to how my insurer deals with pollutants, hazardous materials, lead and asbestos?
- Is there coinsurance in my policy? What does it mean?
- How is actual cash value determined? Why should I care?
- Is it always beneficial for my building/property to be considered a “total loss?” If not, why not?
- What is the difference between a schedule of values and a schedule of limits?
...As a real estate developer and asset manager responsible for the care and oversight of high profile properties located primarily in downtown Detroit, it is vital when a claim occurs that their interest are protected to the fullest extent. In both of our recent claims, Globe Midwest negotiated excellent settlements which allowed the owners to achieve their goals. You were also able to overcome a difficult co-insurance issue that would have dramatically impacted one of the claims. Thank you for the great work. We are glad to offer our reference to potential clients.
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.