Dealing with insurance companies by yourself can be messy and exhausting business. This is especially true when it comes to making claims after suffering a loss. As a homeowner, having insurance ensures that you are compensated for any losses your policy covers. However, the claims process is not always so straightforward in practice.
When you make a claim, you might think you have to accept whatever payout the insurance company offers, but this is not necessarily true. A public adjuster can help you get the best bang for your buck! They also minimize the stress of dealing with the insurance company as they can handle all aspects of the claim on your behalf. In this blog post, we will take you through everything you need to know about public adjusters. Keep reading to get answers to any questions you may have.
Who is a Public Adjuster?
A public adjuster is a licensed professional you can hire to prepare and present a claim on your behalf as the policyholder and negotiate the settlement with the insurance company. You can think of a public adjuster as your advocate throughout the claims process. Their sole purpose when hired is to ensure you get a fair settlement from the insurance company.
They undergo special training which ensures that they are well informed on the state laws and regulations regarding property and home damage. Their professionalism and expertise can help you save time and money during the claim process.
What Is the Difference Between a Public Adjuster and an Insurance Company Adjuster?
Insurance company adjusters, also known as independent adjusters, are hired by insurance companies to adjust and manage the claim on their behalf. Public adjusters, on the other hand, are hired by policyholders to organize and present their claims.
As you must have guessed, an insurance company adjuster’s loyalties lie with their employer – the insurance company. This means that they may not present your claim in a way that will ensure you get full settlement. Their job is to inspect your property and provide the insurance company with an estimate which is most likely what the insurance company will pay out to you.
However, a public adjuster examines your homeowners’ insurance policy, the damage or loss suffered, and provides estimates for payment which will be based on current market conditions to ensure you have more than enough for repairs. It is best to engage a reputable public adjuster to ensure your claims process is not jeopardized by a lack of experience or by negligence.
Is Getting a Public Adjuster Worth It?
Going through the claims process as a policyholder without a public adjuster can be likened to going to court without an attorney. Unless you just happen to be an insurer, chances are you have never worked in insurance before. You should consider getting a public adjuster to avoid falling into hidden loopholes or short changing yourself.
Here are some of the benefits you can gain from hiring an adjuster:
Fair Settlement
Public adjusters are trained to maximize your claim payout. Their experience helps them recognize the true value of your property versus the damages suffered. You should know that insurance companies, like all other companies, try to limit how much they have to pay. This is why getting a public adjuster is worth it because you know they are getting you a fair payout.Best Interests
Public adjusters work for you because you hire them. Furthermore, their payment usually comes from your settlement. This means that you can rest assured that they are doing everything in your best interests. This is also tied to the fact that they work to get you as much as you can get from your insurance coverage.Proper Guidance
This is especially necessary when this is your first time dealing with the claims process or where the claim is particularly complex. Public adjusters will provide you with proper guidance on what your policy entails and the extent of the damage to your property. Furthermore, they also know the laws regulating your homeowners’ insurance better than you do which helps them even the playing field when dealing with the insurance company.- Stress-Free and Efficient Claims Process
Adjusters handle your claim on your behalf. This means that any negotiation done with the insurance company will be done by the adjusters. This takes the weight of dealing with the company off your shoulders.
You can also expect your claim to be handled efficiently and professionally when working with an adjuster. This is because they are better suited to negotiating with your insurer and can expertly gather any required evidence or documentation.
Getting a public adjuster is always a good idea, no matter how small the claim may be. This is because the small damage you see may run deeper than you expect and the insurance company may capitalize on your lack of experience to pay you less than what you deserve.
What Kind of Claims Can a Public Adjuster Handle?
Here are some claims on homeowners’ insurance that a public adjuster can manage on your behalf:
Water Damage
These claims can be caused by internal water damage from a damaged pipe or natural disasters such as storms.Fire Damage
Public adjusters are adept at handling fire claims from fire outbreaks including wildfires.Theft or Vandalization Claims
Homeowners’ insurance usually covers theft of personal belongings in the home such as furniture and equipment.Weather Damage
This entails damage by natural disasters such as hail, storms, lightning, and hurricanes.- Structural Damage
This can include roof collapse, leaks, or any form of damage to the structure of your home.
Public adjusters also provide evaluation and estimation services which means they help determine the cost of repairs which often impacts your payout. To do this, they use special tools and technology to determine the degree of the damage and provide you with an estimate of repairs.
What Should I Expect When Working With a Public Adjuster?
There are several responsibilities a public adjuster will take on when hired and here is what you should expect:
Clear Interpretation of Insurance Policies
Working with a public adjuster means that you have a professional explaining those complex terms of your insurance policy to you. They are experts in dealing with claims so this means that they can easily break down your policy for you and save you the time of trying to decode any industry jargon. This helps you understand the limits and extent of your coverage, and what kind of benefits you are entitled to depending on the damage suffered.Evaluation of Property Damage
Public adjusters will examine and accurately evaluate what it will cost to repair or replace the loss suffered. Most times, they will have to physically inspect your home to determine this. This evaluation can affect the payout you get from the insurance company. It will also give the adjusters a better negotiating ground because now, they know the actual extent of the damage and how much you will need to cover it.Negotiation
Insurance companies usually seek to minimize payouts and their adjuster will try to present the damage in a way that lessens its severity. This is where having a public adjuster helps because they will handle all negotiations on your claims on your behalf. They will represent your wishes and interests throughout the claims process. In this way, they are your liaisons and help to streamline the claims process.- Speedy Resolution of Claims
Public adjusters can help you avoid any pesky delays and ensure that your claim is resolved as quickly as possible. This is because they are familiar with the process even when it comes to complex claims which means they handle every aspect of your claim on your behalf. This also helps relieve the stress that comes with handling your claim yourself.When working with a public adjuster, you should expect ease and a strong representative. If you would like to negotiate a higher payout, they will help facilitate communication between you and your insurer, and ensure that you end up with an equitable settlement subject to your insurance coverage.
Lastly, you should always ask them for a timeframe regarding the settlement of your claim. Try to get a specific timeframe and have it in writing. You should also ask the adjuster what happens if they cannot meet that timeframe.
What Questions Do Public Adjusters Ask?
Public adjusters need to ask you some questions to be able to do their job effectively. You should expect them to ask for your insurance policy in order to review it and understand the limits of your insurance coverage. They will also ask questions about the damage from your point of view. You should expect questions on how the damage happened, what you did after the damage occurred, and whether or not you have had someone else examine it. Adjusters will also ask for your expectations from the insurance company so that they can determine the best way to present your claim and how best to negotiate.
It is important that you provide accurate information to your adjusters as the information you provide can have a significant impact on the outcome of your claim. Furthermore, you should not hide any important facts that might affect your claim. Doing so can negatively impact your final settlement and even hinder or slow down the claims process.
How Much Does a Public Adjuster Cost?
A public adjuster’s fee often depends on the size and complexity of the claim. It is usual practice to have an adjuster charge a percentage of your settlement amount. At On-site Adjusting, we charge our fee to the insurance company, so there are no out of pocket payments on the part of our clients.
How Do I Find Public Adjusters Near Me?
The public adjuster you choose must be duly registered and licensed. In Illinois, the Illinois Department of Insurance regulates public adjusters and you can contact the department to check whether or not an adjuster is licensed with them.
If you live in Wisconsin, you can reach out to the Wisconsin Office of the Commissioner of Insurance to confirm an adjuster’s license. For California residents, the California Department of Insurance keeps a record of all its licensed public adjusters. You can also check with family or friends for recommendations.
Try to be as thorough as possible when conducting your research for a public adjuster. Ensure they have good reviews and that their area of expertise matches your current claim. You can also ask them whether or not they have handled a case similar to yours.
And if insurance companies are stressing you out over your claims, contact On-site Adjusting for help today. We give free consultation to first-timers.
Conclusion
You can always contact a public adjuster at any stage of your claims process before settlement. Although getting one is not an automatic guarantee that your payout will be higher, the time and stress it saves you is always worth it. This is especially true when your claim is complicated.
