Property Insurance Claim Handling Overview

This course explores property insurance claim handling and helps students understand the difficulties of claim disputes. In addition, this course explains the roles of the insurer, the insured, and the contractor while handling insurance claims.

Course Outline

• Introduction/Background
• Overview of Property Insurance Claims
  • Claim data overview
  • Increased Risks and Increased Claim Expenses for the Insurer
    • Larger losses/more catastrophes
    • More damage
    • Rising labor and material costs
  • Insurance claims are becoming increasingly difficult
    • Reduced coverage
    • Restrictive coverage
    • Higher deductibles
    • More demands on the Insured
• The Policy 
  • The contract
  • Insurance company obligation: “We will pay for direct physical loss or damage to covered property located on the insured premises caused by or resulting from a covered cause of loss.”
  • RCV v. ACV
• The Claim
  • Notice of the claim
    • Timing
  • Proof of Loss
• Handling the Claim
  • The Insurer’s Responsibility
    • Investigate
  • Property Insurance Landscape
    • Wisconsin
    • Minnesota
  • The Insured’s Responsibility (WI + MN)
    • Provide Notice
    • Prove their Loss
    • Duty to Cooperate
      • Inspections
      • Provide Proof of Loss
      • Settlement of the claim
  • The Contractor’s Responsibility
    • Provide an estimate of scope of work needed and price for the work
    • NOT A PUBLIC ADJUSTER!
    • Supplements 1. Upgrades are NOT supplements
    • Provide an invoice
• The Construction Contract 
  • The Initial Contract
    • Terms
      • Scope
      • Price
    •  Cancellation (72 hours after claim denied)
  • Contract Updating a. Agreed upon price/scope
  • CHANGE ORDERS
• Claim Disputes
  • Matching (Effect of Cedar Bluffs case)
  • Harvesting siding (Elm Creek case)
  • Code Compliance (St. Matthews Church case)
  • “Cosmetic” damage
• Appraisals
  • Parties to the appraisal are the insured and the insurance company
  • Contractor is not the expert
• Takeaways
  • There is typically a deadline in your insurance policy for filing a lawsuit related to a claim.
  • Insurance claims exist but are becoming more difficult
  • The Insured and Insurer both have a responsibility
  • The Contractor is there to support the homeowners
• Wrap-Up

Learner Objectives

• Gain an understanding of how a contractor can help its customers who experience property insurance damage claims
• Compare the landscape of property insurance claims in Wisconsin and Minnesota
• Become familiar with policy terms, conditions and the policy obligations
• Determine the contractor’s role in claim handling
• Learn how recent court decisions impact the way contractors can perform repairs.
• Identify the appraisal process

Testimonials

"I've been in the construction industry for 19 years and have done a handful of claims every year.  There are a few things in this  course that I wish I knew about earlier.  They would have saved me time, money, or both." Benjamin Katororsz, Construction Con Dios, LLC

"The course was very informative and easy to understand. I liked the case information included as it related to the industry." Darren Kiser, Kiser Construction

Quiz Info

In order to receive continuing education credit(s), you will need to take a 10-question quiz after each hour of the course. To pass each quiz, you will need to achieve a score of 70% or higher. If you are unsuccessful, you will have an opportunity to repeat the quiz. Once you have successfully completed the course, you can download your continuing education certificate(s) showing the credit(s) that you have earned.

Credit Info

This course has been approved for one hourof MN residential contractor, remodeler, and roofer continuing education by the Minnesota Department of Labor & Industry, including the required energy credit.

If you are eligible to receive continuing education credits, your information will be electronically reported to the appropriate agency within 3 business days of course completion.

Access Info

Your online course is accessible 24/7. The course will be available to you for 180 days from purchase date.

Questions and Comments

Questions and comments related to the curriculum for this course may be submitted to the instructor at education@housingfirstmn.org.