How Switching Appliances Can Shorten Claims Cycles
Thursday, December 22nd, 2022 Catastrophe PropertySupply chain problems aren’t going away any time soon for insurance adjusters. Home improvement retailers and warehouses have been plagued by empty shelves since the first year of the COVID-19 pandemic. And goods scarcities for everything from lumber to La-Z-Boys have driven cost increases that make home insurance claims settlements more expensive.
‘It’s going to take a while, in terms of the supply chain getting back to what the demand is,’ said Janak Lally, assistant vice president at ClaimsPro -- BC Lower Mainland & Interior. ‘You’re waiting on products for a long time.’
Lately, that’s been particularly true for home appliances -- which makes adjusters’ jobs harder if they’re trying to control costs while getting clients’ lives back to normal following NatCats or other events where homeowners experience contents losses.
Difficulty in sourcing identical appliances has led to delays in home restorations, said Lally, who is also president of the Canadian Independent Adjusters’ Association. This in turn has driven up costs for housing clients in hotels or other lodgings while waiting for their homes to be habitable.
In response, adjusters have gotten creative by suggesting clients consider alternative appliance makes or models that are at least comparable. And the strategy’s had good results.
