Public Adjusters Represent You and Not The Insurance Company
A Public Adjuster works for the property owner, not the insurance company. The highly stressful period following a loss is a difficult time for individuals and businesses. A Public Adjuster can take those major headaches away and let you get back to your home or business.
A public adjuster is an advocate for the policyholder in appraising and negotiating an insurance claim. Public Adjusters exist because of the inherent conflict of interest that exists when one person or entity attempts to represent two sides of a financial transaction. Public Adjusters are the only type of claims adjuster that can legally represent the rights of an insured during an insurance claim process. It is always wise to let Public Adjuster review your claim even after you have settled with your insurer.
It is important to note a Public Adjuster can only work with insurance claims related to personal or business property damage. Car accidents, life insurance and other types of insurances claims cannot be handled by a Public Adjuster. Also, most States require every Public Adjuster to be licensed and bonded in order to represent any Policyholder in the respective State. A licensed and bonded Public Adjuster is the best to have on your side as they have had to take classes and be tested on the many aspects of handling claims, insurance companies and policyholders.
There are three classes of insurance adjusters: staff adjusters (employed by an insurance company or self-insured entity), independent adjusters (independent contractors hired by the insurance company) and public adjusters(employed by the policyholder). “Company” or “Independent” adjusters can only legally represent the rights of an insurance company.
Among other things, it is the Public Adjuster’s responsibility to:
1. Evaluates your existing policy to determine what coverage that may be applicable to an insurance claim;
2. Makes recommendations to improve on your existing policy to insure you have the best coverage for your situation. Any changes to the policy are made by the policyholder’s insurance agent.
3. Determines the appropriate values for settling all covered damages;
4. Negotiates the best possible settlement with the insurance company on behalf of an insured.
* This inspection and policy review is usually done by most Public Adjusters at no cost to the policyholder.
* It is recommended policyholders have this policy consultation and inspection prior to any claims in order to insure they have the best coverage in the event of a claim.
* This relationship is also important to establish prior to any claim, so in the unfortunate event that damage is incurred to the policyholder’s property, they are just a phone call away from having the Public Adjuster’s knowledge, skills and strength on your side right from the beginning of the claim negotiation process.