What the Pros and Cons of Hiring a Public Adjuster?
As a licensed Public Adjuster, it is our responsibility to advocate for the insured during the claims process. We follow a strict code of ethics to work with the insurance company provides the insured with a fair and proper settlement for damage to their property.
Advantages of Using a Public Adjuster
1. Strict Standards and Vast Range of Knowledge
Public adjusters are experts at understanding insurance policies. We know everything there is to know about insurance, types of claims, how to estimate the scope of damage to a property and the value of a loss. A matter of fact, a lot adjusters who worked for the insurance company, become public adjusters! A public adjuster must go through rigorous training, be licensed, bonded, fingerprinted, and pass a background check. In Florida, you must apprentice under a licensed public adjuster for six months before you can become licensed yourself.
2. You Have an Advocate
Property damage can be overwhelming for a homeowner. Even if you have insurance that you know will cover your loss, there is going to be stress involved and sometimes devastating like in the case of fire or storm like Hurricane Ian! The last thing you need in a time of loss, is stress if your insurance company isn’t helpful in making sure you get a proper settlement for repairs or replacement cost to return you to your pre-loss condition as you agreed and paid for in your premium each year. These are among just a few of the reasons you need a public adjuster to handle a major insurance claim. Filing a claim for damage can be an emotional time so you need an expert; an objective third-party involved in negotiations to keep everything calm, cool, and collected and make sure you get the money you deserve in your settlement.
3. Much Higher Insurance Settlement
A report from the Florida OPPAGA, a legislative office of policy analysis, states that a public adjuster gets policyholders on average 747% more in their insurance settlement than if they had not used one. This is proof positive that by using a public adjuster you’re assured much more money for your insurance claim.
Disadvantages of Using a Public Adjuster
1. Some Handle Only Major Property Damage Claims
Don’t allow the myths of public adjusting deter you from the fact that public adjusters are definitely necessary when dealing with expensive claims and catastrophic property damage. Firehouse Adjuster, Stuart Grimes, will not take claims that don’t really require a public adjuster. Guided with integrity and service to the community as a Firefighter in Palm Beach, FL, you can expect to have a fair and proper settlement for damage to your property.
2. Percentage of Settlement
You have nothing to lose working with a Public Adjuster. Public Adjusters will help with your claim but they only get paid if you do and you don’t have to pay them in advance. Public adjusters are paid a percentage of the claim settlement. While this encourages us to work harder for that final settlement, it can also be a negative if we fail to get a higher settlement. If you don’t get paid, neither do we. Some claims end up going to court, when the insurance company refuses to admit that they owe. When a claim goes to court, it simply means that your Public Adjuster is working hard for you and has a strong case the the insurance company is underpaying or not holding up their end to your contract as the insured. This process can take longer to settle than if you didn’t have a public adjuster but it also means you will make what you are owed and avoid a wrongful claim denial.
3. The Process Can Take Time
Most of the time, insurance claims handled by a public adjuster are pretty cut and dried. We file the claim, we stay in constant communication with your insurance provider, and we get the policyholder a just settlement. The fact is, by letting a public adjuster handle your claim, things will move faster than if you handled it yourself. This is because often the insurance company will give you the runaround. They know well that homeowners and commercial property owners are usually not well-versed in the language of insurance. A qualified public adjuster knows the insurance game inside and out. We move things along because that is what we do best. But as stated above, if things go further than a simple and fast settlement and the claim ends up in court, the process is extended, dependent upon the attorney and county in which the case is heard.
As you can see, the pros far outweigh the cons when it comes to hiring a public adjuster to handle your insurance claim for home or commercial property loss. If you need to hire the best, contact us today!
