What is a Public Adjuster

whatisapublicadjusterThere are three types of insurance claim adjusters:

  • Staff Adjusters: Staff adjusters are hired by the insurance company and often work within the company itself.
  • Independent Adjusters: Independent adjusters are freelancing contractors that are then hired by the insurance companies to deal with claims.
  • Public Adjusters: The policyholders themselves and not the insurance company hire public adjusters.

So out of all the classes of insurance claim adjusters, public adjusters are the only ones who have nothing to do with the insurance company. They are hired by the policyholder to go over the claim, and to ensure that they receive the correct amount of money from the insurance company to cover the damage done to their buildings during the disaster.

Your public adjuster will go through your insurance policy meticulously, and look at the damage done to your property; they will then assess what the cost to repair it will come to and then enter the negotiation process with the insurance company.

Public adjusters come in all different categories and it is important to hire someone who is an expert in the particular niche that your insurance claim falls under. By hiring someone with extensive proficiency and experience in the particular field that your claims fall under, you will be more likely to get the best pay out package for your insurance claim.

A Public Adjuster’s Duties

House with flood damage concept with water reflections.

There are many different duties that public adjusters perform for the policyholder:

  • Assess and examine the insurance policy in question to ascertain what compensation is applicable to the claim.
  • Investigate, record and validate the damages done to the property and any extra expenses
  • Estimate any losses to the policyholders business
  • Evaluate monetary amount needed to cover all damages
  • Record, document and substantiate the claims as a representative of the policyholder
  • Discuss and settle on a pay out amount with the insurance company
  • If a disparity is found in the settlement, the public adjuster can reopen and negotiate a higher stipend for the insured

It must be remembered that a public adjuster has no affiliation or responsibility to the insurance company, only the insured, and therefore the policyholder pays for the public adjusters services.  Most public adjusters are paid a percentage of the total fee paid out to the insured party, and in most cases the fees must be communicated up front to the policyholder before they go ahead with the process.

It is most advised to hire a public adjuster if you are dealing with claims of over 10 000 dollars, or if you feel unsure about what you are covered for in your claim. While it is not always necessary to hire a public adjuster, doing so will make the insurance process a lot less stressful for you as a policyholder.

All About Public Adjusters

After experiencing any sort of disaster people tend to be traumatized and emotional, and this is the worst time for them to start filling out insurance claims and forms. Often insurance companies require you to place a claim as soon as possible after the incident has occurred; people are still shaken and stressed and this can result in forms being filled out incorrectly, or the wrong information on the disaster being given. All of this has a bearing on the outcome of the insurance claim, and it could significantly lower any compensation given out to the policyholder.

To avoid the hassle and the potential mistakes a good deal of homeowners hire public adjusters to deal with their insurance claims. Not only does it alleviate the stress of the situation, it also gives the homeowner peace of mind knowing that the insurance company will not rip them off.

Additional Articles of Interests

Setting Expectations With Your Public Adjuster

Public Claims Adjuster Fees

Finding and Hiring a Public Claims Adjuster

Do I Need a Licensed Public Adjuster?