Making an insurance claim is bad enough even when things go as well as possible. But when you feel your insurance company’s insurance adjuster may not be playing fair with you, your stress levels can go through the roof. That’s when it’s time to hire a public insurance adjuster.
A Common Misconception About the Insurance Industry
Most people don’t know much about the insurance industry. They expect that if they pay their premiums on time each month, then if anything happens, their insurance company will be there to help. Sadly, that’s not always the way things work out. You may run into trouble with your insurer for many reasons, and it usually starts with the insurance adjuster.
Three Different Types of Insurance Adjusters
Insurance adjusters, sometimes called claims adjusters, are responsible for assessing property damage, writing a report, and then reporting the value in dollars and cents to the insurance company. Insurance companies typically send out their adjuster to the policyholder’s property, and the claim’s future depends on that person’s skill and integrity. While most claims adjusters do their jobs honestly, there are reasons why some may not give you a complete and accurate picture of how much your claim is truly worth.
To better understand why this may happen, you need to understand the three different kinds of claims adjusters.
The Company Adjuster
This person works for the insurance company. As someone who is usually a full-time and salaried company employee, the most benefits come by representing the employer’s interests. This loyalty to the company may result in cutting corners when assessing claims to finish them as quickly as possible or even go as far as minimizing the damage or the cost of repairs.
The Independent Adjuster
An independent claims adjuster is not an employee of any particular insurance company but usually works for them on a per-assessment basis. It’s not uncommon for these adjusters to contract with multiple insurance companies simultaneously. Since they get paid per assessment, they are incentivized not to spend much time reviewing the details of each claim. In addition, they may feel that making lower assessments may lead to more contracts with the insurer.
The Public Adjuster
Unlike the company or independent adjusters, a public adjuster isn’t hired by the insurance company but by the policyholder. This critical difference means that a public claims adjuster never feels obligated to reduce the value of a claim or cut any corners. Public adjusters are vested in ensuring the highest settlement amount possible since they get paid based on how much the insurer reimburses the policyholder.
Why Understanding the Three Types of Adjusters is Important?
Understanding the three types of insurance adjusters is essential because each type has a different role, represents other interests, and interacts with policyholders in distinct ways. Having this information at hand will be helpful to identify whether or not your claim is being handled in your best interests and, if not, the reason why.
For example, you will understand that the interests of a public adjuster vs. an independent adjuster differ when handling claims, allowing you to make more informed decisions when choosing who will represent you.
By knowing who represents which party and what their roles entail, you can ensure that your claim is handled fairly and that you receive the compensation you are entitled to under your insurance policy.
Why Hire a Public Adjuster to Represent You?
There are several reasons why you might want to hire a public adjuster to represent you:
They can help you get the maximum settlement possible
Public insurance adjusters can help you make the most of your insurance claims and ensure you get worthy compensation. Remember that company adjusters will always put the company’s interests before anything. Therefore, they’ll try to reach a claim settlement less than you requested.
They Provide Detailed Damage Assessment
Hiring a public adjuster ensures you don’t miss important details regarding your property insurance claim process. As opposed to independent adjusters, public adjusters pay full attention to your case, which might lead to discovering some losses you might have overlooked. Their job will not be done until you have reached a fair settlement.
You have a strong advocacy on your behalf
Public adjusters work for you, not the insurer. Their primary interest is ensuring that your claim is handled fairly and you receive the compensation you deserve. They know how to navigate the claims process efficiently while putting their strong negotiation skills to defend what is rightfully yours.
Speeds up the Claim Process
A public adjuster can help speed up a homeowners insurance claim by ensuring all documentation is in order and submitted correctly and promptly. This allows for a lower error margin while avoiding going back in the process.
If you ever find yourself in a situation where you think your insurance company may not be doing right by you, talk with the expert claim adjusters at Peninsula Public Adjusters to help get you the settlement you deserve.
