David Melzer
David Melzer has been a guest on Collecting Keys, the real estate investing podcast hosted by Mike DeHaan, Dan Austin and Dylan Koch.
How to NOT get wrecked by Insurance Companies with David Melzer
Public insurance adjuster David Melzer explains how property insurance claims actually get processed, why carrier estimates come back so low, and what a public adjuster does to document and push a claim to a higher payout. He covers contingency fee structures, when to bring in an adjuster, how to vet one, and what property owners should and shouldn't say to their carrier. Mike and Dan also walk through their own oil-spill claim on an Airbnb rental and get Melzer's read on how it should have been handled.
Key takeaways
- Carrier field adjuster estimates get reviewed internally multiple times, and line items get stripped out each pass, so a $20,000 estimate can be cut in half before the homeowner ever sees it.
- Public adjusters usually work on contingency. Getting involved from day one can run around 10% of the total claim; coming in late to chase a supplement runs 30% or more of the additional money recovered.
- Bring in a public adjuster early. Insurance companies are denying claims faster, and once a claim is denied it is very hard to overturn.
- Don't overshare with the insurance company. Answer questions directly. Volunteering unrelated history, like a roof leak ten years ago, can trigger a denial.