Who Are the Public Adjusters

 

 Today I would like to talk to abut who are Public Adjusters and what role they serve for both homeowners and business owners. The key role of a Public Insurance  Adjusters to advocate  on behave of the homeowner or  business owner when they have sustained insurable  property loss by negotiating and apprising first party insurance claims. In  another words Public Adjuster is representing you the policyholder, not the insurance company. Public Adjusters are highly trained and experienced professionals,  licensed  and regulated by the California Department of  Insurance and required carry bond, take curses   and be tested on the many aspects of handling claims.

So how  can Public Adjusters help The Home owners and Business owners?

• Evaluate the existing insurance policy to determent what coverage’s is applicable in case of insurance claim
• Make recommendations to improve your existing policy to have the best protection for your family and property.
• In Case of property damage Determine the appropriate value for settling all covered damages
• Conduct inspection and documentation of the damaged property ,Negotiate the best possible settlement with the insurance company on behave of an insured. by working with insurance adjusters, contractors and experts.
• Public Adjusters can reopen closed or denied claims wit in 12 months of claim and argue the coverage’s and settlement in behave of the homeowner or business owner.

Home and Business owners who sustained Insurable damages should  hire a public adjuster as a  claim professional to guide them through the claim  process and minimize the time and stress and get  claim maximum settlement. Public adjusters make their income by charging a percentage of the settlement or via a commission structure. Public adjusters are also employed to create detailed scopes to explain cost estimate during remediation. They’re also called upon to explain further and interpret determined coverage and negotiate for a final settlement.

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Understanding The Difference Between A Public Adjusters And Insurance Companies  Adjusters

Understanding the unique differences between a public adjuster and an insurance adjuster can make an impact on a homeowner or commercial insurance claim. Think of this scenario — as a homeowner, you have homeowners insurance to help protect your property from the unthinkable such as fire or hurricane damage. Considering all of the money that you paid for the coverage over the years, you would think that you will be adequately protected. But what if the insurance company doesn’t necessarily have all of your best interest in mind as they assess your damage and ultimately determined in a subpar settlement. The adjuster that is sent to your home isn’t working on your behalf — they are there to work on behalf of the insurance company to lower the settlement. As a homeowner, remember that when your insurance company sends out a claim adjuster that is assigned to your case, they are hired to work for and by the insurance company, even if the adjuster introduces themselves as an independent insurance adjuster. The insurance adjuster has the legal obligation to come to your home to assess damage, but they aren’t required to be fair in their assessment.

A public adjuster, on the other hand, is a licensed claim expert who are hired to advocate on your behalf you the policy holder after the claims process. They are there to ensure that you receive the maximum possible settlement in the most efficient way possible. Just like the insurance adjuster that is there on behalf of the insurance company, a public adjuster will carefully scrutinize your policy and estimate the full scope of the damage to ensure that you are adequately compensated. The public adjuster will work in stages, starting with a thorough appraisal of damages, initiating negotiation processes with your designated insurance company, and arrange a settlement that properly compensates you for your loss.

The 7 Thing To Ask A Public Adjuster Before Hire Him

 

Hiring a  Public Adjuster is an important decision, make sure the person you hire meets the following criteria:

1.Are You Licensed and Can I See Your Pocket License?

To make sure person you going to hire is State Licensed and follows all laws and regulations for education, ethics, responsibilities and carries bond.

2.Do You Have Construction Background?

To make sure Pubic Adjuster knows every aspects of your property and can assets the extended of the damage.

3.How Long Is Your Experience In Insurance Industry?

To make sure Public Adjuster have extensive experience in ins and outs of the insurance industry to better represent your claim and overcome every obstacles and get maximum settlement. You don’t want to have rookie to manage your claim

4.Do You Offer Guarantees?

To know how confident is the Public Adjuster in His or Her services and what to expect from them.

5.Do You Have Referrals and Reviews?

To check the previous clients who had use Public Adjuster services, how He or She  handle the claim and how satisfied are clients are what to expect by hearing from others.

6.Do You Have Client Portal For Claim Status Updates?

To know is there system in place for you can get updates for your claim 24/7 and to review the claim progress. You want to make sure you know every step and be informed of the level of the attention of Public Adjuster have on your claim.

7.Do You Do Public Adjusting Full time?

To find out level of commitment of the professional and how much time He or She will  spend on your claim. You don’t want Public Adjuster who das this on part time bases.

 

How Public Adjusters Get Paid

 

There are many different ways that a public adjuster can charge fees for their services. They could charge a flat rate, an hourly rate, or quite commonly, contingency fees. You should always remember to settle a fee rate and way of payment with your public adjuster before you enter into any agreements. They should tell you upfront what their rate is and which method they use, this should also be added into your signed contract with the public adjuster. Fees for public adjusters are regulated on the state level and many states have rules and restrictions on when, how much, and the methods allowed, for public adjuster fees charged.

• Flat Rate: If you have a large claim, but it is a very simple case that has a very clear outcome, then your public adjuster may charge a flat fee for the entire process. It is important to ascertain what the fee covers and doesn’t cover, as you don’t want to be caught out by additional costs such as expert opinions and other expenses. This fee should be decided on before the contract is signed.

• Hourly Rate: This is not a common way for public adjusters to charge for their services, however there are some who do practice it. An hourly rate will depend on the state where you are situated, the public adjusters experience and expertise, their operating costs and the type of policy that your claim falls under. An experienced public claims adjuster should be able to tell you how many hours they will have to work on the claim.

• Contingency Fees: This is the most popular way for public adjusters to charge for their services. They will take no direct fee from you, but rather will get a percentage from the overall payout. The amount they charge varies on experience, as well as state regulations. For example public adjusters in are not allowed to charge more than 20% of the final fee in a situation that isn’t declared a disaster, and not more than 10% if it has been declared a disaster. Most public adjusters will charge between 5 and 15%, and this can regress if the amount of money being paid to the claimant increases.

While a large majority of public adjusters are honest and competent at their work, it is still very important to watch out for potential scams. Some people will ask for a deposit before they start work and then leave with your money, others may refer dodgy contractors who may not be the best for the job but they receive referral compensation from, or have financial interest in. In many states, both of these practice methods are illegal.

Whenever you hire a public claims adjuster it is important that you ensure you are getting someone who is honest and proficient at his/her job. It is up to you to have a rigorous interview process, and that you sort out the matter of fees before you sign any contracts.