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What is an Assignment of Benefits, or also known as an AOB?
An AOB is a legal document signed by the policyholder that allows a third party, such as a water damage mitigation company, a mold remediation company and/or General Contractor, to “stand in the shoes” of the insured and obtain payment directly from the insurance company. It also provides the contractor with the legal right to seek recourse against the insurance company in the event they do not issue payment for the services provided.
Does South Florida Water and Mold Restoration, Inc. work with homeowners/policyholders under an AOB?
YES- if your claim is a covered loss, we would proceed with the work with a signed AOB, and wait to be paid from the insurance company, many times without any out of pocket expense to you (depending on your deductible and coverage). The insured would check off the box on the AOB for the services they choose to hire us to perform.
For example, if you experience a water damage or flood in your home, and you need a water extraction and dry out, you would check off water damage on the AOB, and we would perform the services and send the bill to the insurance company for this service only.
If you need a mold remediation, you would check off mold remediation on the AOB, and many times, we will advance the cost to hire a licensed mold assessor to perform air quality testing, and prepare a protocol detailing the necessary work to be performed to substantiate the mold issue to the insurance company. We would prepare a detailed line item estimate for the insurance company based on the protocol and our visual inspection.
In some cases, the insured may have to wait to proceed with a mold remediation until they receive the claim payment for the reconstruction costs as we do not work under an AOB for reconstruction. The insurance company would pay the insured directly for the reconstruction portion of their claim or the insured would advance the cost to reconstruct at their own expense and wait to be paid from the insurance company. The insured is free to choose their own contractor for reconstruction. In this situation, we would work with the insured to coordinate the mold remediation when the insured is ready to proceed. Once the extent of the reconstruction work is determined, we can provide an estimate to perform the reconstruction of the property, if requested.
In addition, once you choose our company under an AOB, we will help navigate you thru the claims process and we will meet with your insurance company adjuster to go over the work necessary to resolve the issue.
Is it safe to sign an AOB?
Before you sign anything, its important to make sure you are working with an honest contractor that is looking out for your best interests. Interview the contractor and ask questions. Then ask yourself, do you feel comfortable communicating with this company? do they respond quickly? are they knowledgable? Then check them out on the Better Business Bureau, read online reviews, and confirm they are licensed and insured to perform the services you are requesting. The insurance claim process can take up several months or more so hire a contractor you can comfortably work with during the process.