Skip to Content

Alexander Property Holdings secures a million-dollar settlement with help from public adjusters


Written by: Sill Public Adjusters


Alexander Property Holdings secures a million-dollar settlement with help from public adjusters

Public adjusters transformed what seemed like an impossible insurance claim into a million-dollar victory for Alexander Property Holdings. When disaster struck their commercial property, the insurance company initially offered a settlement that barely covered a fraction of the actual damages. However, everything changed after bringing in professional claims experts.

This remarkable journey of Alexander Property Holdings—from devastating property damage to ultimately securing proper compensation. You'll discover the specific strategies used, challenges overcome, and lessons that might benefit your own property insurance situation.

Alexander Property Holdings Background

Alexander Property Holdings stands among the notable players in the real estate sector. Based in New City, New York, this privately held company focuses on the acquisition, development, ownership, and management of premier real estate throughout the country. Their diverse portfolio encompasses multi-family communities, office buildings, and commercial properties.

Property owners like Alexander often face significant hurdles when filing insurance claims after damage occurs. For instance, insurance adjusters frequently claim that damage existed before the incident or resulted from poor maintenance. Additionally, they may disagree about repair costs or overlook certain damages during inspections.

Statistics reveal that nearly 1 in 20 homeowners file property insurance claims yearly. Yet, many find themselves battling against insurance companies' profit-protection tactics. These corporations typically generate revenue by collecting premiums while minimizing payouts.

Common strategies employed by insurers include outright claim denial, liability disputes, damage undervaluation, and deliberate delays. They might also exploit policyholders' unfamiliarity with complex policy terms and conditions.

These challenges became all too real for Alexander Property Holdings when disaster struck one of their commercial properties. Facing an uphill battle with their insurer, they needed professional assistance to secure fair compensation for their extensive damages.

Sill Public Adjusters Role

Facing an uphill battle with their insurance company, Alexander Property Holdings turned to Sill Public Adjusters for expert assistance. Founded in 1928, Sill brings over 90 years of experience advocating for business and homeowner clients. Their team specializes in insurance claims management, taking the burden off property owners while working to maximize claim recovery.

Sill's approach began with comprehensive documentation of Alexander's property damage. Their team meticulously photographed all visible and hidden damage, compiled detailed inventories, and gathered supporting evidence. Furthermore, they maintained thorough records of all communication during negotiations, preserving valuable evidence for potential disputes.

Notably, Sill's public adjusters conducted a thorough policy analysis to identify all coverage opportunities. Their expertise in policy interpretation proved invaluable, as insurance documents often contain complex terminology that property owners struggle to navigate independently.

Consequently, Sill's team negotiated directly with the insurance company on Alexander's behalf. This advocacy proved crucial, as public adjusters typically secure settlements 40-700% higher than insurance companies' initial offers. In fact, one documented case showed Sill increasing a settlement from $22,000 to $68,000—more than tripling the original offer.

The company's Vice President of Field Operations, Mike Hickle, led the team through this complex process, resulting in a settlement that "clearly exceeded what we would have achieved on our own".

Results & Impact

The financial outcome for Alexander Property Holdings proved remarkable. Sill's comprehensive approach led to a $1 million insurance settlement—substantially higher than the insurer's initial offer. This dramatic increase aligns with typical results seen across industries, where businesses regularly experience 40-700% increases in their claim settlements when represented by professional public adjusters.

Throughout the recovery process, Alexander Property Holdings benefited from more than just financial compensation. The company gained peace of mind as Sill's team handled overwhelming paperwork and stressful negotiations, allowing leadership to focus on rebuilding operations rather than battling insurance adjusters. This advantage echoes the experience of other Sill clients, who report significant stress reduction alongside their financial recoveries.

The secured funds enabled Alexander to completely restore their damaged property, replace essential equipment, and minimize business interruption losses. Most importantly, this comprehensive settlement protected jobs and ensured long-term business resilience.

Indeed, the settlement transformed what could have been a financial disaster into a complete recovery story. As one satisfied Sill client noted: "Without your involvement, we would have had to negotiate with these experts on our own. The result would have been disastrous. Sill ultimately recovered an amount almost three times the amount their experts wanted us to settle for".

Even after accounting for the public adjuster's fee, the substantial increase in the final payout made working with Sill a wise investment.

Alexander Property Holdings' journey demonstrates the immense value public adjusters bring to insurance claims. Their story evolved from a potential financial disaster into a million-dollar victory through professional guidance. Public adjusters undoubtedly prove their worth through meticulous documentation, policy analysis, and skilled negotiation.

The financial impact speaks for itself. A settlement dramatically larger than the initial offer allowed Alexander to fully restore their property and maintain business continuity. Equally important, the company avoided the stress and time commitment of battling insurance adjusters alone.

This case clearly highlights why property owners should consider professional representation when facing significant insurance claims. After seeing numerous similar outcomes, I believe the investment in a public adjuster typically pays for itself many times over through increased settlements.

Property owners facing insurance battles should remember Alexander's experience. Though insurance companies aim to minimize payouts, professional adjusters level the playing field significantly. Consequently, businesses can recover properly rather than accept inadequate compensation that leaves them struggling.

The next time disaster strikes your property, consider following Alexander's example. Professional claims experts might just transform your insurance nightmare into a complete recovery story, just as they did for this New York property company.