Did you ever file a property damage claim to your insurance company only to receive no compensation for your losses? Unfortunately, this isn’t rare nor an exception to the rule. In many cases, insurance companies either underpay or refuse to pay policyholders. The reason for this? Deception and bureaucratic regulations that the policyholder doesn’t know. The solution? A public adjuster!
What Is a Public Adjuster?
A public adjuster is an insurance agent that specializes in solving property insurance claims. This expert only works for the policyholder and receives a fee from the final insurance settlement. In a way, you’re not paying him anything beforehand. He subtracts the fee from your due settlement. But it’s entirely worth it because, in most cases, a public adjuster earns you more money than you’d have normally earned.
- Investigates the damage to your property and inspects any additional expenses required for the repairs
- Estimates the value of your incurred losses (property and assets) and calculates the required money to cover all the losses
- Examines your property and identify the correct property claim to file to your insurance company
- Records the claim process and observe the insurance policies and regulations that apply
- Negotiate with the insurance company on your behalf, trying to obtain the maximum settlement
When hiring a public adjuster, you need to know what type of property damage you’re dealing with. Some claims adjusters specialize in certain types of home damage, such as hurricane damage, mold damage, storm and tornado damage, etc. Others specialize in multiple property damage types, on the other hand.
One more thing you should remember is that public adjusters are different from an adjuster or insurance adjuster. Public adjusters are the ones you hire to represent your best interest against the insurance company. Insurance adjusters work for the insurance company, and their interest is to either underpay or not pay you at all.
When you file a property damage claim without hiring a public adjuster, the insurance company will send their own adjuster. Relying on their fairness and objectivity is the last mistake you’ll ever make.
Why And When Should You Hire a Public Adjuster?
Filing property damage claims can be an overwhelming process with all the paperwork and policy regulations. Insurance companies won’t explain or be patient with you. They’ll send an adjuster to (biasedly) estimate your losses and pay you a settlement (an unfair one). If you don’t know your policyholder rights, then you’ll get scammed, and there’s nothing you can do about it.
A public adjuster evens the odds. Hiring one is within your rights and substantially improves your chance of obtaining a fair settlement. When you don’t understand your claim, you don’t have the time, or you want to expedite the process, you can hire a public adjuster. At any time during the claim procedures, you can hire an expert adjuster to represent your best interest.
Public adjusters are more efficient at filing property damage claims than you are. They have an in-depth understanding of insurance policies, what they can or cannot do, and how to get you a fair settlement. There are plenty of benefits to hiring a public adjuster, enough so you’ll never consider not hiring one in the future.
Before hiring a public adjuster, you may want to ask some questions first. What is his track record, or what fee does he charge? Will he handle your claim personally, or will he send someone else? Is his area of expertise and experience adequate for your needs? You’ll need to ask these questions and more, to be sure the adjuster represents you in his best capacity.