HIRING A PUBLIC ADJUSTER – DOES IT REALLY HELP?
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DEALING WITH PROPERTY DAMAGES:
Experiencing property damage or loss can be an overwhelming situation for even the most efficient business or homeowner. Property damages can often disrupt everyday routine life for any homeowner or commercial enterprise. Unexpected damages to Personal Property, Business Property or Condo Building be it in any form, every situation is stressful to deal with under any circumstances. Mostly, owners are unaware of the claim settlement process to be followed and lack the technical know-how of dealing with the insurance company or insurance adjusters. Here public adjuster services come in handy as a stress-free solution to deal with the damage claim settlement process.
HIRING A PUBIC ADJUSTER ADDS VALUE
EXPERTS ADVICE ON HIRING A PUBLIC INSURANCE ADJUSTER.
The process of filing a damage claim with an insurance company comes with a lot of stress to deal with your already emotionally testing situations. Owners must understand every aspect of the prerequisite insurance policy in detail to avoid being in a vulnerable position. Insurance company adjusters work to defend their clients’ interests, so be prepared to answer all types of unreasonable questions trying to differentiate between policy coverage and your duties and responsibility as a property owner. A proper investigation and valuation of damages require professional help, without which you will never be able to claim the actual amount for the damages caused. It is a very complex process to document and categorize different types of losses that occurred to your property.
An Interview published in claims journal with attorney, author and law professor Mr. Ken Feinberg, well known for his contribution for his administration of the victim funds for both 9/11 and the BP Oil spill.
FIND OUT WHAT MR. KEN FEINBERG’S, THINKS ABOUT PUBLIC ADJUSTERS:
I think public adjusters fill an essential role here and make up for a significant shortcoming to manage the overwhelming volume of claims in many cases involving mass disasters. Incidents in the past indicate there were not enough Public Adjusters available to deal with cases like the BP Oil spill, 9/11 Tragedy or Hurricane Katrina, and the list goes on and on. Some insurers might have an opinion that Mr. Feinberg is equally complimentary of a public adjuster.
Mr. Feinberg further goes on to say, “put yourselves in the shoes of the policyholder and make sure that you understand the policy well. Explain all details sympathetically favouring the policyholder. It helps the policyholder understand his rights and the responsivity of the insurance provider. Assist the policyholder in understanding the strategy and what choices they have to make a legitimate case under their protection contract.
The key to executing successful claim settlements is by involving compassion, competence and innovativeness in your approach. This is how a professional, experienced, and qualified public adjuster must operate.
At the point when you endure damage or loss to your property, the insurer will either send an employed staff adjuster or an independent insurance adjuster who is hired on a contractual basis to represent the insurance company. Whichever be the case of an adjuster representing the insurer, you ought to comprehend that these adjusters serve and protect the insurance company’s interests only. Depending upon circumstances, the insurer’s adjuster gets incentivized to handle large number of claims and how quickly they can settle claims. Hiring a public adjuster ensures to protect your best interests and meticulously represents and advocates to benefit your claims settlements to the maximum possible.
CLIENTS EXPERIENCE WHEN HIRING A PUBLIC ADJUSTER:
Many home and business owners do not have enough time and patience to handle the unending requests for data and archives demanded by the insurance company. A public adjuster will arrange and deal with your case and help limit the time you need to go through managing all the case issues.
CLAIM PROCESSING EXPERTISE:
Due Diligence and assessments for Claim processing is a complicated process and are supposed to be handled by a team of experts, keeping in mind all financial and architectural evaluations and damages. Analyzing your insurance policies and coverages, we translate and decode the underlying meaning to translate it in your favour. Hiring a public adjuster is like having an expert working on your behalf, being instrumental in Documenting, Submitting and Negotiating your insurance claim settlement process from start to end.
QUICKER CLAIM RESOLUTION:
A quick analysis of your policy provisions and stipulations as they relate to your loss is necessary to process your claim. This in-depth review will determine the coverage, limits, exclusions, and other forms that may apply to your particular loss. An in-depth investigation of the losses and damages will need proper planning for presentation to understand how to document your claim correctly. It is also of absolute importance to measure the administrative work required, as much as using legitimate language to get approval for your claim settlement at the earliest.
PROTECT POLICYHOLDER RIGHTS:
An experienced public adjuster will be able to comprehend and keep in mind the insurance company’s basic documenting and damage valuing requirements. This detailed approach would give you the advantage to re-assess your previously denied/declined claims. In some cases, activities like arranging for witnesses to testify undocumented evidence and to represent your claim with a more forceful and hostile approach wherever necessary to settle claims in your favour.
FAIR VALUE ASSURANCE:
Insurance companies make all possible efforts to ensure that claim pay-outs are settled as low as possible, especially during natural disasters when they have to process a high number of claims at once. A recent study in Florida showed that public adjusters were able to negotiate claim settlements for commercial businesses and homeowners almost 747% more than what the insurance company was planning to pay-out.
AFFORDABLE FEE STRUCTURE:
Our fee structure is based upon what we are able to negotiate for you, which means we are highly motivated to do all we can to make sure you get fair compensation. All fees are administered and managed by the Florida Department of Financial Services. A standard price in percentage is charged for public adjusting services from the amount negotiated with the insurance company. When a natural disaster is declared, fees get capped at 10% as per state law.