When natural disasters like hurricanes or tornado hits, the last thing on most people’s minds is insurance. But after the emergency crews have left and the damage is assessed, it’s time to file a claim.
If you’ve suffered property damage, you may wonder if you should hire a public insurance adjuster. Here’s what they do:
-Public insurance adjusters work on behalf of their policyholders. They are licensed professionals who help people file claims and negotiate with insurance companies.
-Public adjusters can help with claims for flood, fire, smoke, wind, hurricane damage, and other perils. they can also help with loss of business income if caused by property damage.
-Most public adjusters charge a percentage of the claim amount as their fee. So it’s essential to ensure you’re getting what you’re worth if you hire one.
-Public insurance adjusters have an expertise in the language and details of insurance policies and the process of filing and submitting/adjusting claims. They often have many years of expertise in construction or a related field.
-Public adjusters use sophisticated software to evaluate a client’s property loss independently. First, they gather highly detailed claim information that can be challenging for policyholders to compile. Then, they log and submit initial and supplemental claims on behalf of the policyholder.
-Public adjusters help clients wade through negotiations/discussions with contractors and insurers alike. Having an adjuster through this process saves the policyholder significant time and labor. It protects them from any pitfalls due to inexperience.
Regarding property damage claims, there are three types of insurance adjusters: company adjusters, independent adjusters, and public adjusters. Insurers employ company adjusters, and they’re sent to evaluate claims filed by the company’s policyholders. Independent adjusters do contract work for insurance companies. They are usually hired as needed when there’s a surge in demand or for their specific expertise. Finally, public adjusters are hired by individuals/businesses to utilize their expertise in assessing damages and claims while negotiating with insurers to get the maximum payout for their claims.
So what’s the difference between these three types of adjusters? Company adjusters work for policy holder’s insurance companies and are responsible for evaluating claims filed by the company’s policyholders. They are not hired by the individual filing the claim. Insurance companies hire Independent adjusters on a contract basis to help with claims. They are not employed by the insurance company but work for themselves. Finally, individuals hire public adjusters to help them file a claim and get the most money possible from the insurance company. They are not employed by the insurance company but work for themselves or an associated firm.
There are pros and cons to working with each type of adjuster. For example, company adjusters may be more likely to be biased in favor of the insurance company. In contrast, independent adjusters may be more likely to be biased in favor of the individual filing the claim. Public adjusters are typically less biased than either type of adjuster, as they work for the claimant rather than either party involved in the claim. However, public adjusters usually charge a fee (typically a percentage of the total payout on the claim). In contrast, company and independent adjusters do not charge fees.
One of the main advantages of using a public adjuster is that they can help you receive a favorable settlement from your insurance company. In addition, insurance companies are often more willing to work with public adjusters because they know that the adjuster is acting on behalf of the policyholder.
Public adjusters can also help you speed up the claims process. They know what information insurance companies need and can help you gather all the necessary documentation. This can save you much time and hassle.
When hiring a public adjuster, most people want to know how much it will cost. The great news is that many public adjusters offer free consultations, so you can determine whether they are the right fit for your claim. Fees for public adjusters vary depending on the size and complexity of the claim. Still, they typically range from 3-10% of the total payout. Remember that these fees are regulated by state law, so you won’t have to worry about getting taken advantage of.
Hiring a public insurance adjuster can greatly help after a natural disaster. If you’ve been affected by one, contact your insurance company and get started on the claims process.
