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Assisting Recovery, Inc. “Survivors Helping Survivors” • 888-216-8264 •
carehelp.org
Upcoming Meeting
Schedule:
Should I
Take That Check? When you are faced with a disaster loss, you, like
almost every other survivor, will be confused and bewildered about the
complex new requirements, including insurance, building codes,
construction, and tax assessments and tax losses, to necessary to rebuild
your life. Money to rebuild will be a major necessity.
You will need funds to get back on your feet. After its initial investigation, your insurance
company may offer “advances” and/or settlement checks in various
amounts. You may be hesitant to take them believing “strings” are
attached. Our advice is to accept the money as long as nothing is written
on or attached to the check that may limit your future recover from the
insurance company. Most insurance companies try to lessen the
financial strain of your loss with payments within the policy
limits. However, if a letter in the same envelope as the
check states that the payment concludes or closes your claim, you should
not accept or cash the insurance settlement check unless you are
absolutely certain that the insurance company does not owe you a single
penny more. If the insurance company still owes money on your
insured loss, photocopy the check and send the copy to the insurance
company and, in writing, tell them to issue another check and remove any
language stating your claim is closed, final or
concluded. The insurance company owes you the “undisputed”
amount of your claim. Any money that you and the insurance company
agree is owed is called the “undisputed” amount. This can be
confusing because if the insurance company offers or pays less than the
actual loss, most people would want to question or “dispute” the
insufficient payment. They are owed more than what is being paid but
the payment is not truly “disputed”. It is the amount that is not
being paid that may be in “dispute”. Basically, if the insurance
company is making a payment to you, that is not money in
“dispute”. For example, you document and claim that your
house will cost $500,000 to rebuild and the insurance company insists it
will cost only $300,000. The insurance company owes you, at a minimum,
$300,000. $300,000 is the “undisputed” amount. You and the insurance
company agree the house will cost at least $300,000. The additional
$200,000 is the amount in “dispute”. Accept the $300,000 as the undisputed
amount. Let that money start working for you! However, if you
have a mortgage, the insurance company will also include the name of your
lender on any check written for the dwelling and other structures
(Coverages A and B). Always write “PARTIAL PAYMENT” above your
signature when negotiating your check. Always photocopy both sides
of any check. Never negotiate a “final” payment type of check.
Get the adjuster to re-issue the check without any final conditions on, or
related to accepting, the check. ______________________________________________________________________________________________ CARe
Meetings in San Diego This Week! ______________________________________________________________________________________________ Investigator-Turned-Whistleblower
Claims Faulty Power Line Installations Caused 2003 Cedar and For
$50,000, the cost of a single fire engine, SDG&E could fix an
allegedly dangerous problem on power lines in http://eastcountymagazine.org/?q=456_whistleblower
______________________________________________________________________________________________ Insurance
fight may be
ugly
http://pacbiztimes.com/index.php?option=com_content&task=view&id=851&Itemid=1 ______________________________________________________________________________________________ Insurers
Can Polish Their Image While Boosting Bottom Line
5/25/2009
Why is it
that so many people seem to hate—or at the very least, distrust—the
insurance industry? What impact, if any, does this undercurrent of
suspicion and hostility have on the bottom line? And is there anything the
business can do to improve its image, or is insurance doomed to be forever
tarnished by a poor reputation? ______________________________________________________________________________________________ Money
Often Dictates Response
Equality With one
of the most diverse populations in the http://www.disasternews.net/news/article.php?articleid=3901
______________________________________________________________________________________________ Overloaded
power lines blamed in 2007 Malibu
fire May 5, 2009 Reporting from San Diego and Los Angeles — In the
gusty predawn hours of Oct. 21, 2007, portions of three wooden utility
poles in Malibu Canyon snapped and fell to the ground. Sparks from live
electrical wires ignited dry brush, creating an inferno that raced down
the canyon into the Civic Center area, destroying 14 structures and 36
vehicles. A
California Public Utilities Commission investigation concluded that the
poles were so overloaded with electrical and telecommunications wires and
other equipment that they broke in winds they should have been able to
withstand. ______________________________________________________________________________________________ I
know God will not give me anything I can't handle. I just wish that
He didn't trust me so much. -Mother Teresa ______________________________________________________________________________________________ ... Help CARe provide
assistance to disaster survivors and continue our free
services: http://www.carehelp.org/contribute/contribute.htm ... For removal or
subscription to CARe, Inc mailing list, please email info@carehelp.org Community Assisting Recovery,
Inc.
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