Insurance Claim Settlement
Public Insurance Adjusters: When To Hire One And Why
Insurance adjusters are responsible for evaluating the extent of damage to a home after an incident like a fire or windstorm. And public insurance adjusters evaluate property loss on behalf of a policyholder and help them file insurance claims in exchange for a fee. They are licensed professionals who work for individuals and businesses – not insurance companies – and can save you a lot of money by ensuring your insurance company is paying the full amount it is responsible for under your policy.
What is a public insurance adjuster?
Public insurance adjusters are the only property loss professionals who work on behalf of policyholders. Individuals and businesses hire public insurance adjusters when they need assistance filing a claim or feel a claim amount offered by an insurance company is incorrect.
Claims for flood, fire, smoke, wind and hurricane damage, as well damage due to other perils, can be filed and negotiated by public adjusters. Property losses might also result in other types of losses, such as business income, which public adjusters can evaluate.
What A Public Adjuster Does For You
Public insurance adjusters are experts in the details and language of insurance policies, as well as at filing and adjusting claims. They commonly have prior experience in construction or another related field, and use sophisticated software to perform an independent evaluation of a client’s property loss. They know exactly how to log and submit initial and supplemental claims for a policyholder.
They also help clients negotiate with contractors and their insurer. Having an adjuster throughout the process not only protects the policyholder from any pitfalls due to inexperience, it is a time consuming process then labored by the adjuster.
Public vs company and independent adjusters
Public adjusters are one of the three main categories of insurance adjuster, and each is employed by a different group. Insurance companies, businesses and individuals all use insurance adjusters to evaluate property loss and determine the dollar amount a claim should pay out. To better cater to the different parties, there are three distinct types of insurance adjusters: company adjusters, independent adjusters and public adjusters.
Company insurance adjusters are employed by carriers and sent to evaluate claims filed by their company’s policyholders. Independent adjusters also work for insurance companies, but act more as consultants. Independent insurance adjusters are usually hired on an as-needed basis because of a surge in demand or for specific expertise.
Should I use a public adjuster for my insurance claim settlement?
Anyone considering filing a property insurance claim should also think about hiring a public adjuster, especially if the claim is for a high amount. As a policyholder, you have little to lose: Many public adjustment firms offer to visit a property loss free of charge to help a policyholder determine the severity of damage and whether they should file an insurance claim.
Even if a policyholder is confident in the dollar value of their property loss, it is good practice to get a second opinion on a costly event like a home insurance claim. Frequently, adjusters visit a home or business and find that their loss estimate is far below what it should be. Public adjusters are professionals and it’s unlikely they will leave out costs in their calculations that a policyholder might forget or not know about. For example, if part of a roof is destroyed by wind, a homeowners risks miscalculating the cost of a new roof and neglecting to include the cost of removing the damaged roof altogether.
Submitting an accurate, detailed claim is crucial to getting the right about of money from an insurance company to cover a property loss. Remember, even the best homeowners insurance companies will never voluntarily pay more than an amount claimed. Policyholders need to be conscious they are claiming the correct amount and hiring a public adjuster can help ensure that.
If you’re looking for a public adjuster to supplement your insurance claim settlement in Atlanta, GA, contact Stellar Supplementing at 770-344-8141, or email us at estimates@stellarsupplementing.com, we look forward to helping you maximize your insurance claim.