If you find yourself in the process of making a claim with your insurance company, you might find it worthwhile to hire a public adjuster. This might be especially true if you feel like the insurance adjuster does not include all the necessary costs for repairs from your claim.
Which party of a claim typically hires a public adjuster?
policyholder
They are hired by the policyholder to go over the claim, and to ensure that they receive the correct amount of money from the insurance company to cover the damage or loss to their buildings or property from a disaster or accident. The first step is to decide if you need a public insurance adjuster.
Can a public adjuster work for a contractor?
Just as it’s against the law for a contractor to take on the role of public adjuster, it is also against the law for a public adjuster to act as a contractor on a claim.
What percentage does a public adjuster take?
The adjuster does not take a direct fee from you at all, though you may be responsible for some minor fees and expenses. In this method of compensation, your adjuster takes a percentage of the compensation that is awarded – usually somewhere between 5-15%, though 20% is not uncommon in some areas.
What is the role of a public adjuster?
A public adjuster is a professional claims handler/claims adjuster who advocates for the insured/policyholder in assisting and negotiating that insured’s insurance claim. Public adjusters negotiate with insurance companies/Carriers for an adjustment or settlement.
What is the difference between an adjuster and a public adjuster?
Independent adjusters are paid by insurance companies to adjust the claim on their behalf, whereas ‘public adjusters’ work exclusively for the insurance policyholder. ‘Public Adjusters’ help policyholders with many of the complex provisions and processes involved with a typical insurance property claim.
