{"id":18754,"date":"2018-11-29T07:13:41","date_gmt":"2018-11-29T07:13:41","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=18754"},"modified":"2023-04-03T08:00:54","modified_gmt":"2023-04-03T08:00:54","slug":"should-you-manage-your-insurance-claims-or-should-you-opt-for-an-assignment-of-benefits","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/should-you-manage-your-insurance-claims-or-should-you-opt-for-an-assignment-of-benefits\/","title":{"rendered":"Should You Manage Your Insurance Claims or Should You Opt For an Assignment of Benefits?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span style=\"font-weight: 400;\">Homeownership is a Herculean responsibility. However, it may seem like a near-impossible task for the first-time homeowner. And well, as a general life rule, if you\u2019re unsure of what you\u2019re about to do, especially when it\u2019s something of extreme importance, you\u2019ll be far better off entrusting your task to a professional who\u2019s had years of experience.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For those who don\u2019t wish to personally handle the intricacies of dealing with an insurance company, there is always the option of opting for an assignment of benefits (AOB).<\/span><\/p>\n<p><b>What exactly is an assignment of benefits?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">An <\/span><span style=\"font-weight: 400;\">assignment of benefits<\/span><span style=\"font-weight: 400;\"> is an agreement that transfers your insurance claims rights to another party. That party is often the business also making the repairs to your home. In signing an assignment of benefits, you relinquish your authority to another party. This party can do the following on your behalf: <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">File an insurance claim<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Direct repairs<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Collect insurance payments<\/span><\/li>\n<\/ul>\n<p><b>Pros<\/b><\/p>\n<p><span style=\"font-weight: 400;\">If you think this sounds like you\u2019re giving up too much authority just for convenience, you may be right. However, using an AOB is a sure way of cutting through red tape and extensive processes because the repair business will likely know its way through the procedure. Not only that, but you\u2019re also going to get your repairs done because of the expedited rate at which the procedure will be carried out. <\/span><\/p>\n<p><b>Cons<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Convenience and expedience come with a high price if you\u2019re not careful. Unscrupulous contractors and businesses have been known to commit fraud when given an AOB. They may bill in excess and then, later on, sue the insurance company when the insurance company refutes the claim. This hurts homeowners when contractors who cannot collect the fees from the insurance company end up collecting the fees directly from the homeowner.<\/span><\/p>\n<p><b>Countermeasures Against AOB Fraud<\/b><\/p>\n<p><span style=\"font-weight: 400;\">This <\/span><a href=\"https:\/\/www.kin.com\/blog\/assignment-of-benefits-scams\"><span style=\"font-weight: 400;\">article<\/span><\/a><span style=\"font-weight: 400;\"> discusses the signs to look out for in detail. But like any other fraud, AOB fraud can be prevented with vigilance and research. The Internet and numerous forums regarding AOB fraud are great sources of information on the matter. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if you genuinely want to get some of the benefits and none of the disadvantages, consider hiring a home insurance agent instead to help you process your claims. It\u2019s as easy as doing a \u201c<\/span><span style=\"font-weight: 400;\">find a home insurance agent near me<\/span><span style=\"font-weight: 400;\">\u201d search on Google.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An insurance agent is different from a <a href=\"https:\/\/lexingtonadjusters.com\/\">public adjuster<\/a>; one should never mistake one for another. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">An insurance agent is a professional who helps smooth the claims process. In contrast, a claims adjuster inspects the claimant\u2019s property to determine how much the insurance company should pay for the repairs. In this instance, when you want the process to go smoothly and quickly, the professional you will want to deal with is an insurance agent. <\/span><\/p>\n\n\n<h6><span style=\"color: #999999;\">Ref: 3264.28397<\/span><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Homeownership is a Herculean responsibility. However, it may seem like a near-impossible task for the first-time homeowner. And well, as a general life rule, if you\u2019re unsure of what you\u2019re about to do, especially when it\u2019s something of extreme importance,<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/should-you-manage-your-insurance-claims-or-should-you-opt-for-an-assignment-of-benefits\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":18755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"no","_lmt_disable":"","spay_email":""},"categories":[7,1,13,16],"tags":[],"wl_entity_type":[602],"modified_by":"Editor","_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/11\/hammer-1629587_960_720.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/should_you_manage_your_insurance_claims_or_should_you_opt_for_an_assignment_of_benefits_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/18754"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=18754"}],"version-history":[{"count":3,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/18754\/revisions"}],"predecessor-version":[{"id":29075,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/18754\/revisions\/29075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/18755"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=18754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=18754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=18754"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=18754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}