Assignment of benefits (AOB) insurance scams are devastating.
Unfortunately, thousands of AOB homeowners insurance scam cases take place across the United States every year.
Today, we’re explaining how AOB homeowners insurance scams work – including how to spot a scam.
Unfortunately, thousands of AOB homeowners insurance scam cases take place across the United States every year.
Today, we’re explaining how AOB homeowners insurance scams work – including how to spot a scam.
What is an Assignment of Benefits (AOB)?
An assignment of benefits, or AOB, is an agreement where you transfer your insurance claims rights to another party.
This can be a good thing. You might sign a trusted contractor or adjuster to take over your insurance claim. You avoid the stress of dealing with the claim while still repairing your property to pre-loss condition.
With an AOB, you give someone else the authority to:
A reputable restoration company or public adjuster will help the homeowner navigate the claims process and sign an AOB form for legitimate reasons. Scammers, unfortunately, may take advantage of the AOB form.
This can be a good thing. You might sign a trusted contractor or adjuster to take over your insurance claim. You avoid the stress of dealing with the claim while still repairing your property to pre-loss condition.
With an AOB, you give someone else the authority to:
- File your insurance claim
- Make decisions about your repairs
- Collect insurance payments
A reputable restoration company or public adjuster will help the homeowner navigate the claims process and sign an AOB form for legitimate reasons. Scammers, unfortunately, may take advantage of the AOB form.
How Scammers Abuse AOB Forms
Scammers can abuse AOB forms. They might convince a homeowner to sign an AOB form in bad faith, then take advantage of that agreement to enrich themselves.
After signing an AOB agreement, a scammer could take advantage of you by:
Since you have signed the AOB form, the scammer is fully within his or her rights to conduct all of the above.
After signing an AOB agreement, a scammer could take advantage of you by:
- Removing you from all communication
- Taking away your right to mediate claims
- Forcing you to pay penalties if you fail to comply with the AOB
- Suing your insurance company
Since you have signed the AOB form, the scammer is fully within his or her rights to conduct all of the above.
How Homeowners Can Spot AOB Abuse
Homeowners can avoid AOB abuse by watching for symptoms of AOB scammers. Common symptoms include:
The best way to avoid these issues and separate AOB form scammers from legitimate contractors is to ask questions. Homeowners should also read the forms thoroughly and know their rights.
By learning the spot the signs of AOB scammers, homeowners can avoid considerable financial issues in the future.
- If a contractor (or someone claiming to be a contractor) knocks on your door and alerts you to damage you didn’t know about, then it could be the start of an AOB scam
- A contractor might promise to offer services to you for nothing – all you need to do is sign an AOB form
- Anyone contacts you and offers anything for free – like a free roof or kitchen renovation
- Someone claims that your damage is much greater than it actually is
- The contractor has begun making permanent repairs to your property before the insurance company has been notified or arrived on-site to inspect damages
- The AOB form is filled with grammar mistakes, spelling issues, or general signs of unprofessionalism
The best way to avoid these issues and separate AOB form scammers from legitimate contractors is to ask questions. Homeowners should also read the forms thoroughly and know their rights.
By learning the spot the signs of AOB scammers, homeowners can avoid considerable financial issues in the future.
Final Tips on AOB Scams
Remember: AOB form scammers aren’t obvious criminals. Many of them are contractors with legitimate businesses. They might have hundreds of happy local customers and a professional website. However, not all contractors operate in good faith, and the contractors that operate in bad faith may take advantage by convincing you to sign an AOB form.
For more tips on insurance claims or to obtain expert assistance with a property damage claim contact ClaimsMate Public Adjusters in Dallas Texas. ClaimsMate provides leading tips and resources for handling property damage insurance claims. Based in Texas, ClaimsMate Public Adjusters assists home and business owners with highly qualified licensed Public Adjusters.
For more tips on insurance claims or to obtain expert assistance with a property damage claim contact ClaimsMate Public Adjusters in Dallas Texas. ClaimsMate provides leading tips and resources for handling property damage insurance claims. Based in Texas, ClaimsMate Public Adjusters assists home and business owners with highly qualified licensed Public Adjusters.
ClaimsMate Public Adjusters
|
See more company information, reviews, ratings and testimonials about ClaimsMate Public Adjusters in Dallas:
Top Rated Public Adjusters Dallas Texas Company ClaimsMate Go Local in Dallas With ClaimsMate Public Adjusters |