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Case Study: Fire Damage

Case Study: Fire Damage

A small fire occurred in a 2 story apartment building that was originally built in 1922. The building owner, a developer and owner of multiple properties who possessed many resources, made the decision to employ Altieri Insurance Consultants immediately after the loss. He was not to be disappointed.

Upon engaging the services of Altieri Insurance Consultants, the client felt the effect of his decision impact his claim immediately. Guidance was provided concerning options for mitigation to prevent further damage. Coverage was reviewed so he would be knowledgeable about claim terminology and methodology. We explained why the age and building construction type would play an important role in his claim recovery. He would now possess a point of reference to work from as we proceeded with the adjustment.

Altieri Insurance Consultants handled all meetings and correspondence with insurance company personnel and their experts, freeing the client’s time to continue with his business. Altieri Insurance Consultants used their personnel and experts to uncover all forms of damage to the building. Damages from fire, heat, smoke, water, and firemen related work were identified and accounted for, even in the most remote areas of building where the untrained eye would never look. Estimates of damage were completed and coordinated with the insurance policy coverage to assure maximum recovery.

To get his building back and rented quickly, the insured initially said he was willing to settle for $50,000.00 since he really thought he only had 2 burned ceiling joists and some plaster work to contend with. After our consultation regarding the claim, the client was able to accept a settlement offer and payment of $192,000.00 in just a few short weeks. He understood the value of using his own expert to handle this claim for him.

The result: The rest of the building owner’s business went unaffected by the claim because he used experts to advance his cause, while a timely, equitable insurance settlement progressed which afforded him the ability to make all necessary repairs without cutting corners or going into his pocket.

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About The Author: Raymond A. Altieri, Jr.
Raymond A. Altieri, Jr. - Chairman & CEO

As a property insurance claims professional since 1980, Mr. Altieri leads the firm at Altieri Insurance Consultants in all matters of property claim adjusting and community outreach. His decades of property claim adjusting experience assure the firm’s clients they are well represented, whether they have suffered a multi-million-dollar commercial loss or have lost their home.

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