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Home on fire with balls of flames bursting out the windows

How Does The Insurance Company Pay Out For Fire Damages

In the case of damages by fire, Texas Fire Claims will first have to determine whether the fire causes have relations to previous events. This means that they need to identify whether the incident falls under their list of covered events. Having a clear understanding of how the company pays out for damages is quite important. This factor greatly influences the whole process.


If your home or business is damaged by fire, your insurance company will pay for the damages. This is called the insurance claim process. The amount of money you receive depends on how much coverage you have and what type of policy.


The company pays out through a process called subrogation. This means that your insurer will pay for the damage done by the fire. They also take whatever legal action necessary to recover this money from whoever was responsible for starting the fire.


The Investigation Process

When the insurance company gets a claim, it assigns a public insurance adjuster to investigate and determine whether the claim is legitimate. The public insurance adjuster may inspect your property and interview witnesses to determine whether there was negligence involved. They will conduct a physical examination of the property itself. This is to determine what caused it to start burning and how much damage occurred from smoke or water damage in addition to actual damage by fire.


Estimating the Cost of Damages

Once they have all this information compiled into one report, they will give it to their manager at their office. The manager will then decide whether you deserve compensation for your losses due to this unfortunate event in your life.


Texas Fire Claims will pay out what they consider fair and reasonable for the damages based on their appraisal of the property. They also have to consider the cost of repairing or replacing your property and any other items lost in the fire.


Paying Out Benefits

If negligence isn’t found and the cause of the fire is accidental you’ll receive payment for your losses based on your policy limits. If there is negligence you may not receive payment at all. You may also receive less money than expected because of added deductibles and co-pays required by your policy.


Texas Fire Claims is legally bound to pay out the benefits you deserve. They will pay you directly, or they may have a third party administer the payment if they cannot handle it themselves. The process of paying out benefits usually takes between three and six months.


When dealing with insurance claims, it’s easy to feel like you’re on the other side of the table. That doesn’t mean you can’t ask questions and get answers. In fact, it’s in your best interest to ask questions about your coverage and how the insurance company will handle your insurance claims.


Our goal is to help customers make well-informed decisions about their insurance policies. We educate you about how our company pays out for damages. If you have any questions or need any help, please contact us today.