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CASE STUDIES

Hurricane Ivan Case Study: From $0 to $18 million


+ $18000000 INCREASE

A large condominium and vacation rental complex on Florida’s Gulf beach suffered extensive damage from Hurricane Ivan. Pinnacle Condominium and Vacation rentals is a private, gated resort in the heart of Panama City Beach’s west end. The complex has various gulf-front and lake-front rentals, many of which suffered extensive hurricane and wind damage.

The Association decided to handle the initial insurance claim filing on its own. The hurricane damages were apparent and the Board believed that the claims process would be straight forward. To that, the board believed that the damages would exceed the condominium insurance policy’s $1 million deductible.

When the insurance claim process came to a standstill, the board of directors decided to interview public adjuster firms that specialize in representing condominium associations. The association hired Panama City Beach public adjuster firm, Insurance Claim Consultants for its experience and expertise with similar claim disputes.

The claim team initiated a thorough investigation of damages. This included producing our own damage estimates and supporting documentation. The team ended up negotiating a final and total settlement in excess of $18,000,000.00 above the $1,000,000.00 hurricane deductible.

It’s all too common for insurance companies to deny condominium association claims and cite that the damages do not meet the deducible. It’s imperative that associations hire an experienced adjuster firm that has the financial resources and network to properly investigate, document and negotiate these complex claims

The insurance company does not have to dictate the pace and outcome of your hurricane insurance claim settlement. Get a FREE and Immediate Claim Evaluation now and allow our public adjuster firm to get to work for you.

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