What is a public adjuster?
A public adjuster is a professional who represents policyholders in negotiating claims with insurance companies. Public adjusters are usually hired after a natural disaster, such as a hurricane, tornado, or earthquake, when homeowners need help filing and settling their claims.
Unlike adjusters who work for insurance companies to minimize payouts on claims, a public adjuster will have your best interests in mind and will work to get you the maximum compensation possible. They are also familiar with the claims process and can guide you through it.
Policyholders who hire public adjusters typically receive higher settlements than those who don't.
What do they do?
Most public adjusters are experienced insurance professionals who have worked for insurance companies in the past. They use this inside knowledge to help them negotiate better settlements for their clients.
Public adjusters can help you navigate the claims process, understand your policy, and make sure that all of your damages are properly documented and valued before you file an insurance claim.
They can also help you appeal denied or undervalued claims by gathering and documenting additional evidence or details that may have been overlooked.
When should I hire a public adjuster?
There are a few key scenarios when you should consider hiring a public adjuster. If you feel like your insurance company is not giving you a fair settlement, if you do not have the time or resources to negotiate with your insurance company, or if you are not getting the results you want from working with your insurance company, then a public adjuster may be able to help.
A public adjuster can also be helpful if you have suffered significant damage and your insurance claim has been denied. In this case, a public adjuster can help investigate why the claim was denied and work to get you the coverage and compensation you deserve.
Hiring a lawyer vs hiring an adjuster
There are certain instances when it makes more sense to hire an attorney rather than a public insurance adjuster. If your claim is particularly complex, or if you feel like you're not getting the compensation you deserve from your insurance company, an attorney may be a better option. An attorney can also help if your insurance company has denied your claim outright.
Another time when you might want to consider hiring an attorney instead of a public adjuster is if you need to file a lawsuit against your insurance company. A public adjuster can't file a lawsuit on your behalf, but an attorney can.
What to expect
There are many steps involved in working with a public adjuster, but the process usually goes something like this:
- You contact a public adjuster to discuss your case.
- The public adjuster reviews your insurance policy and assesses the damage to your property.
- The public adjuster works with you to develop a claim strategy and presents the claim to your insurance company.
- The insurance company reviews the claim and may approve or deny it.
- If the claim is approved, the public adjuster works with you to negotiate a settlement.
- Once a settlement is reached, the public adjuster prepares all the necessary paperwork and you receive your payment.
If your insurance claim is denied or you feel like you're not getting a fair settlement, a public adjuster can also help you appeal the decision.
In most cases, hiring a public adjuster will give you a better chance of getting a higher settlement than if you try to negotiate with your insurance company on your own. However, it's important to remember that no adjuster can guarantee a specific outcome. Ultimately, the amount of money you receive from your claim will depend on the specifics of your situation and the insurance company's own policies.
What do they cost?
Public adjusters typically work on a contingency basis, which means they only get paid if they are able to get a successful settlement for their client. Service fees for public adjusters typically range from 10 to 20 percent of the total claim settlement.
For example, if you hire a public adjuster who charges a 15 percent fee and they are able to secure $50,000 for your claim, you'll owe the adjuster $7,500.
For denied or undervalued claims, the adjuster is paid if they are successful in getting you a higher settlement. In this case, the adjuster's fee would be a percentage of the amount by which your claim is increased.
So, if you have a $50,000 claim and the public adjuster is able to get your insurer to pay $75,000, an adjuster charging 15 percent would receive a $3,750 contingency fee.
If you're considering hiring a public adjuster, be sure to ask about fees and get the arrangement in writing before signing any contracts.
FAQs
Frequently Asked Questions
- A public adjuster will represent you during the claims process.
- A public adjuster can help you understand your insurance policy.
- A public adjuster will make sure all of your damages are properly documented and valued.
- You may be more likely to receive a higher settlement with the help of a public adjuster.
- A public adjuster can take the stress out of dealing with an insurance claim.
Yes. Public adjusters know the ins and outs of the insurance claim process. They can often help get a claim approved that may have initially been denied by providing documentation and details that may have been overlooked by homeowners or adjusters hired by an insurance company.
With a good public adjuster on your side, you will be in good hands during the insurance claims process. Here are some qualities to look for in a good public adjuster:
- They should be licensed and accredited. This means that they have the proper training and credentials to do the job.
- They should be experienced. A good public adjuster will have handled many different types of claims and will know the ins and outs of the process.
- They should be knowledgeable about the claim process. A good public adjuster will be able to answer any questions you have about the process and help you navigate it successfully.
- They should be responsive. A good public adjuster will return your calls and emails promptly and keep you updated on the status of your claim.
- They should be available. A good public adjuster will make themselves available to meet with you when it is convenient for you, not just during business hours.
- They should be honest.
Insurance adjusters are employees of insurance companies. Their job is to minimize the amount of money that the company has to pay out on claims. Public adjusters, on the other hand, are independent contractors who work for the policyholder. Their goal is to get the maximum possible settlement for their client.
Another difference between insurance adjusters and public adjusters is the way they are paid. Insurance adjusters are paid a salary, regardless of how much money they save the company on a particular claim. Public adjusters, on the other hand, only get paid if they are successful in getting a higher settlement for their client. This incentive structure means that public adjusters have a vested interest in getting the best possible outcome for their clients.
Most public adjusters work on a contingency basis, which means they only get paid if they are able to get you a settlement from your insurance company. If they are unsuccessful, you don't owe them anything.
Contingency fees are usually 10% to 20% of the total settlement, but can vary depending on the state you live in and the complexity of your case. Some public adjusters may also charge an hourly rate.
- A public adjuster will represent you during the claims process.
- A public adjuster can help you understand your insurance policy.
- A public adjuster will make sure all of your damages are properly documented and valued.
- You may be more likely to receive a higher settlement with the help of a public adjuster.
- A public adjuster can take the stress out of dealing with an insurance claim.
With a good public adjuster on your side, you will be in good hands during the insurance claims process. Here are some qualities to look for in a good public adjuster:
- They should be licensed and accredited. This means that they have the proper training and credentials to do the job.
- They should be experienced. A good public adjuster will have handled many different types of claims and will know the ins and outs of the process.
- They should be knowledgeable about the claim process. A good public adjuster will be able to answer any questions you have about the process and help you navigate it successfully.
- They should be responsive. A good public adjuster will return your calls and emails promptly and keep you updated on the status of your claim.
- They should be available. A good public adjuster will make themselves available to meet with you when it is convenient for you, not just during business hours.
- They should be honest.
Insurance adjusters are employees of insurance companies. Their job is to minimize the amount of money that the company has to pay out on claims. Public adjusters, on the other hand, are independent contractors who work for the policyholder. Their goal is to get the maximum possible settlement for their client.
Another difference between insurance adjusters and public adjusters is the way they are paid. Insurance adjusters are paid a salary, regardless of how much money they save the company on a particular claim. Public adjusters, on the other hand, only get paid if they are successful in getting a higher settlement for their client. This incentive structure means that public adjusters have a vested interest in getting the best possible outcome for their clients.
Most public adjusters work on a contingency basis, which means they only get paid if they are able to get you a settlement from your insurance company. If they are unsuccessful, you don't owe them anything.
Contingency fees are usually 10% to 20% of the total settlement, but can vary depending on the state you live in and the complexity of your case. Some public adjusters may also charge an hourly rate.