Independent/insurance adjusters are paid by insurance companies to adjust the claim on their behalf, whereas ‘public adjusters’ work exclusively for the insurance policyholder. ‘Public Adjusters’ help policyholders with many of the complex provisions and processes involved with a typical insurance property claim. Many claimants hire public adjusters to help document, expedite, file their claims and to assist them through the entire claims process.
At first glance, though, one might ask, “Why even consider hiring a public adjuster when my insurance company provides one for free?” “It’s a fairly cut-and-dry case, and there shouldn’t be any delay.” “I’ve had the same insurance company for years; they will ensure I am covered; why hire a public adjuster?” All of these questions are common and very normal to wonder about.
However, consider this simple answer – having an advocate on your side is always best. We are all familiar with the idea that insurance companies are in the business of minimizing their losses, meaning they’ll do whatever they can to pay out as little as possible.
An independent adjuster may sound like what you need initially, but in reality, independent adjusters work for the insurance companies – not you. Their bottom line is to represent their employer, the insurance company. Therefore, they legally represent only the rights of an insurance carrier.
Although on the other hand, a public adjuster is a professional who works exclusively on your behalf, ensuring you get the maximum settlement you deserve. Many people have expressed that hiring a public adjuster to handle claims often provides peace of mind knowing that an experienced, knowledgeable and unbiased advocate is looking after your interests.
Here are some potential questions to consider before hiring a professional public adjuster:
- What experience does the public adjuster have with this type of claim?
- Is the public adjuster well-versed in the insurance company’s policies and procedures?
- Is the public adjuster familiar with the local building codes and regulations?
- How often does the public adjuster negotiate with the insurance company on behalf of the policyholder?
- Does the public adjuster have a good reputation in the industry?
- How much does the public adjuster charge for their services?
- Is the public adjuster committed to advocating for the policyholder’s best interest?
- What is the public adjuster’s track record for successfully resolving claims?
- How quickly can the public adjuster respond to my claim?
- Does the public adjuster offer a guarantee of satisfaction?
Public and insurance/independent adjusters are also different in other ways. For example, public adjusters are licensed and regulated by the state where they work. They must pass an exam and obtain a license from the state in order to practice. Insurance adjusters, however, are not licensed and regulated by the state and can be hired and fired by the insurance company.
A public adjuster can also help you secure additional resources and professional assistance, also offering guidance on legal matters. For instance, when you need to relocate, they can assist with renting a storage unit for your belongings or finding a reliable moving company to pack and store them securely. Moreover, they can help you obtain appraisals for any unique items and provide estimates for cleaning and repairs of your damaged property.
Lastly, public adjusters specialize in insurance claims and often have years of experience in the industry. However, insurance adjusters may not have the same expertise or experience with claims. This can lead to less accurate estimates and settlements.
What is the advantage of an adjuster?
While one of the downsides to filing a claim on damages to your home is the wait time for the insurance company to settle, with a public adjuster, the claim time is cut down incredibly. In fact, handling the claim yourself will come with a good number of issues and complications.
Residential property insurance claims are complicated, time-sensitive, and require unique expertise. Large property claims are often settled for much less than they are worth. When hiring a pro, its essential to consider utilizing some of these key benefits:
- Leverage their expertise
- Avoid headaches and lower stress
- Get back into your/a home sooner
- Receive the settlement to which you are entitled
Hiring a public adjuster can be beneficial in many ways, from providing knowledgeable and experienced advice to working with you to get you the best possible outcome from your insurance claim. Ultimately, this will help save time, money, and stress.
How to choose a public adjuster
If you have suffered significant damage to your home or business, you must quickly become familiar with the insurance claim process.
As the policyholder, the first step in this process may be to identify whom you can hire to represent you.
Next, consider the adjuster’s qualifications and experience. Look for someone knowledgeable and experienced in the specific type of claim you are dealing with. Remember to research the adjuster’s reputation and history and look for reviews and feedback from past clients to get an idea of how they handle claims.
Another critical factor to consider is the adjuster’s fee. Most public adjusters charge a percentage of the insurance settlement, so you should consider their percentage before selecting an adjuster. Be sure also to consider whether the adjuster offers additional services, such as negotiating with the insurance company or filing paperwork.
Finally, take into consideration the adjuster’s availability. Ask questions about their availability and how quickly they can respond to your claim if needed. You want to be sure that the adjuster can respond quickly and is available to answer any questions you might have. Overall, selecting a public adjuster is an important decision that should not be taken lightly.
Public adjuster vs insurance adjuster
In conclusion, many differences exist between the public and insurance adjusters. Public adjusters are licensed, regulated, and specialize in insurance claims. Insurance adjusters are not licensed or regulated and may not have the same level of expertise. Ultimately, hiring a public adjuster is often the best option for policyholders looking to ensure they receive a fair and complete settlement.