Overhead & Profit — Getting What You Deserve

Overhead and Profit is justified on any claim that shows the need for “Coordination and Oversight”.

Overhead and profit are used by every general contractor. It is part of the business practices of all general contractors and many subcontractors. It is the cost of doing business and the designated profit for doing the business.

Your insurance carrier will often assert that your claim does not merit this payment.

Overhead is generally set at 10%, profit is generally set at 10%

We recently had a client in Massachusetts that received a $240,000 settlement for a commercial claim. To repair the damage to the properties required a well-qualified general contractor who agreed to do the repairs for the amount the insurance company was offering. The base costs was just over $240,000. The overhead and profit added another $48,000 to this total and would be the total responsibility of the owner.

This project more than qualified for overhead and profit based on the need for coordination and oversight.

We brought careful insight to this claim and settle the claim for the full amount needed to pay the contractor. We at Global Patriot Adjusters are proud of our capacity to bring truth to power.

“We will never go quietly in the face of facts which our clients need to receive full payout on their insurance settlements.”

— Marc Lancaric, President, Global Patriot Adjusters

Contact Us for quick action on your claim 800-654-3041.

Advance: Getting a Good Advance on Your Insurance Claim

What is an advance? An advance is an early release of funds before the claim is fully settled.  

When Global Patriot Adjusters takes on your claim, the first thing we do is looking to getting you an advance on the cost of putting your property back together.

We have many tools in our trade that allow us to make sure monies for your claim come in more quickly.

“We will first look to getting an advance for part of the cost of repairs on your claim. At the same time we will look to file your contents claim for any damaged contents right away. We like to see both of these checks arrived for you within the first 30 days of working with you.”

— Marc Lancaric, Public Adjuster & President, Global Patriot Adjusters

Getting an advance on your insurance claim is very important to getting things moving quickly. There often issues that slightly delay the finalization of a scope. With advances we can mitigate this problem and keep the process moving forward.

When you're faced with a loss that affects the quality and consistency of your life, we know you just want to be made whole as soon as possible. This is the very reason Global Patriot Adjusters asks for an advance as a public adjuster. We seek to get you every dollar allowable under your insurance policy.

Contact Us for quick action on your claim 800-654-3041.

The Basement Dilemma for Flood Coverage

For many homeowners with basements, it is another very vital part of the home. For many that have basements that have to file a floodplain it is a troubling reality. The national flood insurance program does not cover finished basements.

Your basement is covered for the most basic of items. For example, all of the walls that had drywall on them in your basement can be put back but not finished and painted as per the national flood program.

Your electrical, air conditioning and heating, water heater, and freezer can all be covered by flood insurance. Your electrical will also be covered as it pertains to the basement and supplying electricity to the remainder of the home. Your flood coverage will often take care of sump pumps as well.

Your coverage will also take care of things you store in the basement and even replace windows that were broken due to storm.

Because of this limitation that is put on basements under the national flood insurance program it is more important than ever to make sure that you use services that we provide a Global Patriot Adjusters to get every dime available for this space. It is just as important to get the insurance company to pay for all items that are comparable in the basement as it is to make sure the insurance provider is paying market rates.

We recently dealt with a basement where the carrier had only offered the homeowners $23,000 for what we assessed at $46,255. But a strong attention to detail and bringing factors to the attention of the carrier, we were able to get this project fully funded.

Amount Differential ($)

We negotiated twice the amount offered by the insurance company on behalf of the insured.

This rule regarding basements, applies to any area in your home that is below the base level of your home. This rule may come into effect if you have any area of your home which is sunken even for an architectural effect.

At times insurance carriers will misappropriate the basement clause in the national flood insurance program. We see many occasions where a first floor is called a basement wrongly, and we must resolve this with the carrier in our scope of services we provide.

Contact Us for quick action on your claim 800-654-3041.

Understand Flood Coverage and Art/Collectables

Some of the most heart breaking realities we've had to bring to clients surrounds collectibles and art which are not covered my standard flood insurance policies.

The standard flood insurance policy covers $2500 worth of collectibles no matter how many dollars in collectibles your home may have.

Before a flood event happens it is advisable to talk to your insurance agent to get direct coverage on your collectible items that are not covered under the standard flood insurance policy. As many of these items are not replaceable, we also suggest that you move to secure these belongings before any other insured belongings before a flooding event occurs.

Global Patriot Adjusters has counseled many clients pre-storm about these ways to secure these items. We have also shared in the heart ache of many customers who've lost prize possessions that are not insured.

During super storm Sandy we saw Collections, antique furniture, and artwork all destroyed and not replaced by flood insurance.

Please ask us if you have any questions about this standard flood insurance policy and how you can avoid losing valuable collectibles and heirlooms your family owns.

Contact Us for quick action on your claim 800-654-3041.

Understanding the Air Conditioning and Flood Coverage | Global Patriot Adjusters LLC

In the last $50 million in homeowner claims we have produced, more than 70% of those homes with outside air conditioning equipment, are faced with a special risk for additional loss.

You have two parts of your HVAC system, Outside Condenser Unit and Interior Air Handler.

The Condenser will be covered by your flood claim. It usually sits on the ground, and thus, it is covered.  The air handler (inside), however, is generally not covered.   This is the problem; your condenser and your air handler are the same age, the same technology, the same coolant.  If you go to replace the condenser in a flood claim, you will likely find the entire system must be replaced by code, or by necessity of compatibility.

The homeowner is usually left with $2,000 – $4,000 in cost for HVAC over and above the insurance covered amount.  For this reason, we suggest you take the lead from many we worked with during the aftermath of Hurricane Katrina. Instruct your contractors to install your outside HVAC unit above the 100 Year flood level.

You will never again have to deal with the need for flood coverage for this vital piece of equipment.

Contact us at Global Patriot Adjusters LLC for help with getting your claim moving fast with the right Public Adjuster on your side.

Contact Us for quick action on your claim, call 800-654-3041.