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Chicago Property Management Blog

Landlords Are Getting Screwed By Insurance Companies

Mark Ainley - Wednesday, March 20, 2024
Landlords Are Getting Screwed By Insurance Companies

If you ever have had to file a claim on your rental property then you know it feels like no one is on your side.  If you need to file a significant insurance claim on your rental property (>$30k) it feels even more lonely? Flooding and fires are the most common claims of this size. Even a small size fire can cause massive damage when you consider water damage from putting it out.


A public adjuster (aka someone who represents landlords during insurance claims) can maximize payouts and streamline the process for you. While you’ll usually pay a percentage of the claim for their services, a public adjuster could help you recover thousands of dollars (or even tens of thousands on a total loss) more for damage on your rental property. Plus, they take all the time and annoyance of haggling with insurance companies off your plate. 

Side tip: Find a public adjuster you like BEFORE you have a problem because you need to act fast when there’s a problem. 

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Author

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Mark Ainley
Investor, Managing Broker, and Property Manager
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased...
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased over 4,000 properties, featured on CNBC’s TV show The Deed, co-host on Chicago's AM560 Real Estate Revealed Radio Show, and invited to speak & sit on panels at numerous investment summits across the country. I have also been blessed with the opportunity to be a guest on over 30 top podcast platforms. GC Realty & Development, LLC, currently manages over 1,200 investment properties throughout the Chicagoland area. In 2019, 2020, 2020 and 2022, GCR&D was featured on the Inc. Magazine list of top 5,000 fastest growing companies in the United States. I take great pride in providing valued feedback to beginners and less experienced entrepreneurs on what steps not to take or what steps to take sooner in growing a younger business.
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