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What is a Public Adjuster and Why Might You Need One?

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What is a Public Adjuster and Why Might You Need One?

When your property has been ruined, one of the top priorities is to get an assessment of the cost of damages. One of the smartest ways to ensure that you are paid properly is to hire a public adjuster. If you’re new to the process, going back and forth with the insurance is a bit of a headache, and hiring your own adjuster makes the process a lot easier.

Take a look at the information below to learn more about how a public claims adjuster can help you.

What Is a Public Adjuster?

The only property liability practitioners who work on behalf of insurance enrollees are public insurance adjusters. If they require help filing a claim or believe the claim amount provided by an insurance provider is wrong, individuals and companies employ public insurance adjusters.

Public adjusters can submit and negotiate lawsuits for flood, burn, smoke, wind, and hurricane damage, as well as severe damage caused by other disasters. Property damages may also result in other forms of losses that can be assessed by public adjusters, such as company profits.

What Does a Public Insurance Adjuster Do for You?

Public insurance adjusters are specialized in insurance contract specifics and terminology, as well as in the processing and correction of claims. They typically have prior expertise in architecture or similar areas and use specialized technologies to conduct an unbiased appraisal of the destruction of a client’s property.

A public adjuster knows precisely how a policyholder can report and file original and supplementary claims.

The Contrast Between a Public Adjuster and Insurance Adjuster

What’s the distinction between an adjuster for an insurance firm versus a public adjuster?

The insurance agency hires the insurance adjuster and they work together. The adjuster acts on their behalf to get details about claims and calculates the potential repairs and what the repairs will cost.

On the other hand, the public adjuster is employed by the homeowner and is paid for by the homeowner as well.  

Both adjusters perform the same tasks of measuring and evaluating the damage. Both write up maintenance plans and their expenses. Who hires them to do the job is the main distinction.

Should You Hire a Public Adjuster?

Some individuals opt to employ an adjuster merely because they do not have the time to work with the procedure of insurance claims set by the company. This route makes sense if you intend to receive a substantial reimbursement on the payout. A portion of it will be used to compensate for the work of the adjuster.

Other policyholders hire a public claims adjuster when there is a major difference between the repair cost quoted by the insurance and the quoted cost for essential repairs given by the general contractor. A substantial claim amount could help you bargain with a public adjuster for a lower price.

Also, if the adjuster with your insurance company does not adequately return calls or answer questions, that may be a sign to find someone else. Or if you believe the insurance adjuster left damages off of your claim, even if you have a smaller claim, you might want to find your own public adjuster.

That means, the public adjuster your hire will work beside the adjuster of your insurance company, and the policy is then treated with your best interest in mind.

Ways to Locate a Public Adjuster

The National Association of Public Insurance Adjusters (NAPIA) website is the first place to begin your hunt for a local insurance adjuster. The association has a method of vetting that requires members to be certified and to have been in operation for at least two years to gain membership.

These requirements are strong signs of a sufficiently reliable public adjuster. But to ensure that you chose the correct adjuster to manage your claim, it’s worth it to take the extra time to research and get advice.

Research any public adjusters you’re thinking of hiring through the site. Also, if you want to read reviews or get referrals, ask friends and relatives about a public adjuster that they’ve hired.

Furthermore, ask prospective adjusters if they have any references that they can share.

The Cost of a Public Adjuster

Most public adjusters may not charge a fee to review a damaged site to decide whether they will be working on a claim for the policyholder. But they do charge a premium for working to file a claim for a claimant.

A public adjuster will usually bill a percentage of whatever the insurance company of a policyholder actually pays on a claim. For instance, assume that a policyholder hires an adjuster with a 10 percent charge and ultimately owes their insurance company pays $100,000 for their claim. The policyholder will then owe $10,000 to the public adjuster.

The percentage of payments ranges between adjusters and is normally capped by local or state laws. For example, penalties should not exceed 20 percent of a reopened or supplementary claim limit in some states. For claims arising from an incident declared a state of emergency, there is also a 10 percent fee cap.

Public adjusters also limit the dollar amount that can be reached per demand through their fees. Public adjusters with limited experience will usually restrict their fees to $5,000 per claim. Experienced adjusters, could set their payments at even higher rates like $10,000 or $15,000.

Take Advantage of a Public Adjuster

When it comes to your property and making sure that you are paid adequately, it’s never a bad idea to hire a public adjuster. It doesn’t feel good when your things are damaged and ruined.

Therefore, it’s in your best interest to make sure that you are getting the most accurate settlement amount possible from your insurance company. Hiring a public adjuster is your best bet.

If this information was helpful, feel free to read more of our blog posts. We publish tons of content for our readers to enjoy.

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