A.O.B. System
$599.00
- AOB Contract for Services
- AOB Direction to Pay
- AOB Mortgage Affidavit
- AOB Certificate of Completion
- AOB 10 Day Demand Letter
The SVG Team will obtain your logo, company name, address, license, etc and brand these important documents and ship same day via drop box for immediate use.
A.O.B. System Description:
What?
- Assignment of Benefits: Legal document entitling the restoration company to “stand in the shoes” of the insured.
- Assigning the benefits of the insurance policy for a specific claim.
- Insurance Company has to deal with YOU as opposed to the property owner for your bill.
- The effect of a valid assignment is to allow you to receive all benefits and rights under the insurance contract.
Who can sign?
- The policy holder or named insured.
- Authorized Representative or the Property Manager.
- Tenant with authorization from the insured.
Where?
- Assignment of Benefits should be a separate document and/or separate clause in contract.
- State the name of the Insurance company.
- Signed by the named insured or an authorized representative.
A.O.B. vs. Direction to Pay:
Direction to pay:
- Simply instructs the insurance company how to pay
- Conveys no legal standing
- Can not bring suit under a direction to pay and bad faith suit is not an option
Assignment of Benefits:
- Conveys legal standing
- Conveys to bring suit/claim against insurance company in dispute
- Allows the assign or to stand in the shoes of the insured
- Bad faith becomes an option
Requirements for an Assignment to be Effective:
- For an assignment to be effective, it must be signed by the named insured or with authorization from the named insured to sign
- State that it is assigning all rights and benefits under the policy
- No specific language is required to make such an assignment, but the assignor must make some clear statement of intent to assign clearly identified contractual rights to the assignee
When can the assignment be executed?
- Anytime within the Statute of Limitations.
- Check your state for the Statute of Limitation.
- Each state is different.
- For example Florida has a 5 year statue of limitations.
Find out how to get this for free with SVG U
The SVG University training is not included with this product but can be purchased separately
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Call 330-57-STORM or click the button to the right to schedule a demo today!!
Disclaimer: We are not a law firm or a substitute for an attorney or law firm. We cannot provide any kind of advice, explanation, opinion, or recommendation about possible legal rights, remedies, defenses, options, selection of forms or strategies.
