Travelers home insurance low ball offer - can't find rebuilder (Dallas: how much, lawyer)

[Dallasite2020]

Had a water damage in 80% of our house and Travelers have only offered 1/5 of of our insured amount. Three builders already backed-out due to the low ball estimate. Travelers offered to send a mediating adjuster . What is my next recourse as homeowner? Hire an independent adjuster who will work for me (25% commission ), file a complaint with Texas Dept of Insurance or hire a Trial lawyer? It's almost 2 months and nothing has happened.

[Dallasite2020]

We've never filed a homeowners claim since we moved to Travelers 10 yrs ago. We were so comfortable that we are over-insured only to find that Travelers is very tight on payout. It was a mistake moving to them. At that time, they were offering the lowest premium (bait) . Such a nightmare with what you are going through already.

[escanlan]

Start first with a Public Insurance Adjuster who is working for you. Obviously they make nothing unless they collect for you, or at least the honest ones don't. Also check around with the PIA's to see who is offering what rates for their services.

If the PIA advises you it is a lost cause for their services then you could move to an Attorney.

[Dallasite2020]

Great advise, thanks Escanlan. There isn't a lot of private adjusters and not much reviews. I thought going straight to a lawyer (on contingency) may speed things a bit.

[escanlan]

Originally Posted by Dallasite2020

Great advise, thanks Escanlan. There isn't a lot of private adjusters and not much reviews. I thought going straight to a lawyer (on contingency) may speed things a bit.

You can move straight to an Attorney but the cost is unknown and would no doubt be higher. Unfortunately the insurance companies have large legal staffs and a great deal of money that can cost you both in money and time. Chances are high an Attorney would be bringing in a Public Adjuster anyhow and billing you for it. As for contingency cases they do occur but a smart Attorney who is facing an insurance company legal machine might not even consider it.

With a Public Adjuster once you have what you need, and the insurance company still refuses to take responsibility, you can always take the issue to the Texas Department of Insurance (TDI). Hopefully you don't have to take this route (TDI complaint) and yes it adds to the time. However it costs nothing relative to what an Attorney could cost.

Obviously I don't know how much (dollar wise) is at stake here. If it is quite large then you might want the assistance of an Attorney for legal advice (non contingency case) just to make sure you move in the right direction.

[TeamLynn]

Can you ask them for suggestions of past re-modelers who have worked for them?
Some insurance companies have regular subs that do the work.
Do you have an independent agent that recommended them? If so work through that agent.
Third option, get an independent agent to help you change insurance, but not until your claim is finished and paid.
Maybe they agent knows of past client claims who can assist with the work recommendations.

[Dallasite2020]

Thanks TeamLynn. They do have preferred vendors who get the bulk of insurance work at lower prices for more volume. I interviewed one who was referred to me and it looks like they do tract homes. I think payout for insurance claims gets very tricky once you are over the lower housing spectrum (700K as an example). And that it costs more to build in the metroplex than way south especially labor costs.