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#253544 - 10/19/07 07:30 PM Insurance Adjuster  
Joined: Oct 2007
Posts: 4
Jake da Snake Offline
Jake da Snake  Offline
Got lots of damage from Hurricane Dean in August. My insurance company finally got back to me and is offering me about 10% of what my contractor says it will cost. I refused.
Are there any Private Insurance Adjusters in Belize who know how to fight these crooks and win?
Soggy Head

#253563 - 10/20/07 12:31 AM Re: Insurance Adjuster [Re: Jake da Snake]  
Joined: Nov 2002
Posts: 2,443
Short Offline
Short  Offline
Think there is sort of an insurance pre-judge that gives an advice in case of a conflict, that insurance companies usually follow. You have to be reasonable with your demands though! RFG or your real-estate agent should be able to point you in the right direction.

Live and let live
#253686 - 10/21/07 04:51 PM Re: Insurance Adjuster [Re: Short]  
Joined: Oct 2007
Posts: 4
Jake da Snake Offline
Jake da Snake  Offline
Any other advice out there?
I am kind of hesitant to ask an insurance company to point me in the right direction to help me find someone to fight their abuse.

#253767 - 10/22/07 10:19 AM Re: Insurance Adjuster [Re: Jake da Snake]  
Joined: May 2000
Posts: 6,706
Amanda Syme Offline
Amanda Syme  Offline
I think you will find there is an appeal board that meets and has a tribunal hearing if you are not happy with your settlement and feel that you are being treated unfairly.

If you under-insured you won't win. If your contractor is over market costs you won't win.

Many features are not included in your standard policy - things such as fences, piers, landscaping, furnishings/contents etc.

#253836 - 10/22/07 07:39 PM Re: Insurance Adjuster [Re: Amanda Syme]  
Joined: Oct 2007
Posts: 4
Jake da Snake Offline
Jake da Snake  Offline
Okay this is sounding better. How do I get to the appeal board. Who are they, where are they, and how do I get started???
My contractor can rebuild for $45. - $50. sq.Ft. The insurance company engineer is calculating $108. sq.ft. He is from Belize City and it is twice as expensive to build there than up here in the north. With the insurance companies engineer calculations I am under-insured. With my contractor I am not and cost to rebuild will be less than what I am insured for.
That is their main thing. They say I am under-insured according to their incompetent engineer.
Should I get a lawyer?

#253843 - 10/22/07 08:44 PM Re: Insurance Adjuster [Re: Jake da Snake]  
Joined: Aug 2007
Posts: 56
ubbit Offline
ubbit  Offline
Anyone with financial or property holdings in Belize should contact an attorney prior to any problems. The same holds true in the U.S., but even more so in Belize, where attorneys are more respected (although that's changing).

#253844 - 10/22/07 08:45 PM Re: Insurance Adjuster [Re: ubbit]  
Joined: Aug 2007
Posts: 2,781
Leah-Ann Offline
Leah-Ann  Offline
spoken like a true attorney! laugh

I can never remember which is better . . . safe? . . . or sorry?
#253887 - 10/23/07 09:48 AM Re: Insurance Adjuster [Re: Leah-Ann]  
Joined: May 2000
Posts: 6,706
Amanda Syme Offline
Amanda Syme  Offline
You can probably appeal right to the insurance company to start with.

Can you prove that rebuild costs will only be $45 - 50 per sq ft? Or is the contractor going to hit over-runs?

Possibly you can ask the insurance company to get an adjuster specifically knowledgeable in your area. Perhaps costs where the insurance engineer works are much higher than where you live.

Have to assume you are in the Corozal area. You couldn't build for $45 - 50 per sq. ft. here on the Caye unless you were building sub-standard.

#253940 - 10/23/07 12:31 PM Re: Insurance Adjuster [Re: Amanda Syme]  
Joined: Oct 2007
Posts: 4
Jake da Snake Offline
Jake da Snake  Offline
Just put up a small building last year 17" x 20'. Concrete block construction, 5 ft deep foundation, tile floors, quality windows & doors, nice tiled bathroom. Cost me $15,000.

#253943 - 10/23/07 12:57 PM Re: Insurance Adjuster [Re: Jake da Snake]  
Joined: May 2000
Posts: 6,706
Amanda Syme Offline
Amanda Syme  Offline
So it must have been the expensive items that were damaged - roof and windows - maybe wiring. Did you have sheet rock interior walls and ceiling? A concrete box isn't expensive to build, but it is the finishing touches that are costly.

So the cost of the foundation, block walls and tile might only have been $20 per sq ft, but the windows, interior walls and wiring were probably more like $80 per sq ft or so. Averaging out to $50 per sq ft.

Since Hurricane Keith I can say that we decided to go with a poured concrete roof and paid the high cost of storm shutters under the theory that we won't get too much damage next time around. It's expensive up front costs, but then you might not even need to bother with insurance in the future.

Of course I realize hind sight is 20/20

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