A representative from your insurance company reviews your claim. Based on the damage, they estimate your payout. Unfortunately, sometimes claim payouts are lower than you expected and you might feel entitled to more.
A public adjuster may be the best way to get a fair and accurate payment for your home insurance claim. Continue reading to find out what an insurance adjuster looks like, why they are important and where you can find one in your area.
What does it mean to be an insurance adjuster?
An insurance adjuster assesses insurance claims and calculates policyholder’s payout, based on severity and coverage . An adjuster handles the negotiation of claim payouts between the policyholders and the provider.
An adjuster is assigned to you when you file a claim for home insurance. They want to fairly reimburse you, but also to make sure the insurance company doesn’t lose too much.
Insurance claims adjusters own a stake in the company that employs. They are not your employees. You may get a lower payout than your insurance provider because of this.
Some homeowners also choose to have a public adjuster. Public insurance adjusters are independent professionals who act on behalf of policyholders. The adjuster gets a portion of the payout when the claim is settled.
A public adjuster is different from a regular adjuster. They review your claim in detail, survey the damage personally, and then estimate their payout based upon the evidence they gather. A public adjuster typically does a more thorough evaluation than a regular adjuster.
When is it appropriate to hire a public adjuster
In certain situations, you may consider hiring a public adjuster. Public adjusters take over all the details so that you don’t have to worry about stressful claims.
If you have a large claim, a public adjuster may be helpful. A public adjuster will examine your claim closely and make sure that there is no damage. You might receive a higher payout depending on the extent of damage they find.
If they have had bad claims experience in the past, some homeowners hire a public adjuster. An independent adjuster is not employed by the insurance company. There are no conflicts of interest, and you claim payout is the priority.
How can you locate a public adjuster
It is easy to find a public adjuster. You can start by looking at the National Association of Public Insurance Adjusters website. The NAPIA Directory lists all public adjusting firms that must be licensed in the state they operate. To view a directory of adjusters in your region, you can simply enter your zip code or city.
Another way to find public insurance adjusters is to ask friends and family for recommendations. You want to find someone trustworthy and efficient. You can also find helpful information by reading customer reviews online.
Find out the fees charged by each contender once you have found a few. Public adjusters typically keep a portion of the final claim payout. This could be anywhere from 5% to 20%. Before you hire a public adjuster, consider the cost of a large claim that could result in a high payout.
What can you expect when hiring a public adjuster to help you?
A public adjuster will take care of all aspects of your claim. The adjuster will come to your house to assess the damage and make a recommendation on how to pay. They will coordinate with your insurance company in order to process your payout.
You have the option to negotiate with your insurance company for a higher payout before you settle the claim. Your public adjuster will be your liaison, so you don’t have to talk to a representative or negotiate on your own.
Working with a public adjuster can result in a higher payout. According to the Florida Association of Public Insurance Adjusters, homeowners who employed their own adjuster for their insurance claims received a greater payout from their insurers. The average settlement for homeowners who had a public adjuster was $22,266, as opposed to $18,659 for those without one.
Employing a public adjuster will not guarantee you’ll get more money. Although your insurance company will take into consideration the findings of the public adjuster, they might not agree with their recommendation to pay.
Questions frequently asked
What are the best times to hire a public adjuster
After receiving a lower-than-expected claim payout from their insurer, many homeowners choose to hire an insurance adjuster. However, the process of handling a claim can be prolonged by hiring an independent adjuster. It is best to hire a public adjuster before you file a claim.
Can I use a contractor to replace a public adjuster
A contractor and a public adjuster are not the same person. Contractors are qualified to assess damage to homes and calculate repair costs. However, they are not authorized to handle insurance claims. A contractor can be hired to provide a second opinion if the public adjuster has questions about damage and what it may cost to repair.
