HVAC Investigators' Nationwide Network Surpasses 500 Technicians for Insurance Carrier HVAC Assessments

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Jan 12, 2012, 08:16 ET

CHARLOTTE, N.C., Jan. 12, 2012 /PRNewswire/ -- HVAC Investigators, a company that provides insurance carriers with heating, ventilation and air conditioning (HVAC) damage assessments, has announced it has reached a network of more than 500 technicians nationwide.

"Reaching this milestone means even faster service for our customers," said Damon Stafford of HVAC Investigators. "HVAC claims are very time sensitive, particularly in the summer and winter months, as policy holders could be without heat or cooling while they wait on the insurance company to settle their claim for damaged HVAC equipment. Extending our reach to 500 technicians ensures that a technician is always within 30 miles or so of most locations in the country."

HVAC Investigators expects its growth to continue: "We anticipate doubling our technical team to a total of 1,000 qualified technicians by the end of 2012," Stafford said.

That growth will be fueled, in part, by an increasing need for more claim assessments, Stafford said. Indeed, a study this past summer revealed that insurance claims submitted for damaged HVAC units were overpaid by 65 percent in 2011. Overpayment was a result of insurance carriers who paid for replacements of entire HVAC systems, when only minor, less expensive repairs were required, according to the study.

"Our research found that the average claim submitted to insurance companies was the result of a homeowner being told by an HVAC company that their unit was in need of a full replacement, when in actuality, a minor repair would bring the system back to pre-loss condition," Stafford said. "It becomes a self-fulfilling prophecy ... homeowners experience an issue, contact a local HVAC contractor, and in turn unknowingly file a fraudulent claim. That, in essence, is how the game has worked for the past 30 years."

Insurance fraud is the second most costly white-collar crime — after tax evasion — in the United States, totaling more than $29 billion each year, according to the Insurance Information Institute, a New York-based organization aimed at helping the public understand insurance issues.

"HVAC Investigators' goal is to help curb insurance fraud at the beginning of the process," Stafford said. "Prior to our service offering, there was a lack of HVAC technical expertise available to insurance carriers to inspect HVAC and refrigeration equipment suspected of damages. The most common resolution for these type of claims was to simply pay the replacement invoices provided by the insured, without verifying if repair or replacement costs are in line with market pricing."

HVAC Investigators utilizes local technicians across the country to assist with investigations of heating and air-conditioning claims. The firm's technicians have a deep knowledge of HVAC equipment and charge fees much lower than those of a typical engineer. They diagnose all the components within HVAC systems to determine the cause of damage, whether or not it should be repaired or replaced, and provide a recommended settlement.

ABOUT HVAC INVESTIGATORS

HVAC Investigators is the nation's leading provider of HVAC assessments. The company provides factual, timely reports that help insurers settle fair and fast. For more information, go to www.hvacinvestigators.com or call (888) 407-5224.

SOURCE HVAC Investigators