Should I Hire A Public Insurance Adjuster?

Insurance Blog

Dealing with an insurance claim from beginning to end can feel like a full-time job. Whether you're dealing with home, auto or medical insurance, the claims process is complicated and time-consuming. Midway through the process, many policyholders throw up their hands and decide to just complete the process, sometimes without fully optimizing the insurance benefits they pay for.

When you file an insurance claim, an adjuster gets assigned to assess the damage and determine the amount that will be paid out for coverage. Insurance companies will typically hire an in-house adjuster unless the policyholder hires a public adjuster instead. Of course, insurance companies have an incentive to pay out as little as possible on any given claim. They have quality standards that they must uphold, but their ultimate goal is not necessarily to maximize policyholders' coverage.

The role of a public adjuster is to assist the policyholder throughout the claims process up until the claim is settled. They take the approach of advocating on the policyholder's behalf. Public adjusters take over the handling of the insurance claim and negotiate claim settlements on behalf of the policyholder.

Public adjusters typically charge a percentage fee of the total claim. How do you evaluate whether hiring a public adjuster will be worth it? Here are a few quick tips to evaluate whether hiring a public adjuster might be right for you:

1)   The size and type of the claim – Is the claim on a commercial or business property? Is the dollar amount high enough that even accounting for the percentage paid to the adjuster, you will be likely to recoup more than if you don't use a public adjuster?

2)   Your schedule and time constraints – Do you have time to spend filing the claim, talking to the adjuster, getting quotes from contractors, and answering phone calls from your insurance company? If not, you may get more out of your claim by hiring a public adjuster.

3)   Specialized equipment or property involved – Is there specialized equipment involved in the claim? Does the damaged property have unique or special qualities that might require specialized expertise to evaluate? It might be a good idea to involve a public adjuster.

4)   Policyholder is having problems with the insurance company – In some situations, it can be difficult to communicate with your insurance company. Perhaps your case manager is not responsive, or there is an unresolved problem with your claim.

Each insurance claim is unique and should be evaluated carefully to determine whether hiring a public adjuster might be worth the cost. Contact a public insurance claim adjuster for assistance.


11 August 2020

Preparing for the Future

Ten years ago, I married my best friend in a beautiful, intimate ceremony. My husband and I have been nearly inseparable and we’ve enjoyed this special time in our lives where it has been just the two of us. However, we’re finally ready to have a baby. Because I only work part-time, my husband is the primary financial provider in the family. If something ever happened to him, I wouldn’t be able to instantly support myself and a child. Because my husband worries about an uncertain future, he is considering purchasing a larger life insurance policy. On this blog, I hope you will discover the best types of life insurance policies for young parents to invest in. Enjoy!