Public Adjuster Bootcamp July 25-29, 2022
Public Adjuster Bootcamp July 25-29, 2022 (Details Soon)
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(Must be logged into Zoom Platform by 9:55 am, or you miss the class.)
Cosmetic damage exclusions are now commonplace in insurance policies across the country.
How did these exclusions become commonplace?
Decades ago, farmers and ranchers across the heartland raised the issue with their insurance companies about ways to lower their premiums for the numerous buildings on their farms. Farmers were paying significant premiums to insure outbuildings and commercial structures for farm equipment and barns. The farmers and ranchers were not concerned with the cosmetic looks of the buildings and were willing to give up some standard coverages in exchange for significantly lower premiums. Many of these structures served a utilitarian purpose (tractor shed, pole barn, feeding shed) and the looks of the structure were not of major concern to the farmers/ranchers especially given the fact that the structures already had multiple dents scratches from cattle, horses, and farm equipment.
What started out as a reasonable solution to a problem has grown to now impact virtually everyone with a metal roof or siding. Insurance companies have pushed the exclusion to the edges while purposely keeping the exclusion language vague and ambiguous.
We will discuss the exclusionary language and how to address it to ensure that the insured is properly indemnified for their claim.
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