When it comes to making the decision to hire a public adjuster or not, you have to consider your particular circumstances and situation. However, here’re our top reasons why a public adjuster may be good for you:
1. A Public Adjuster Will Free Up Your Time
After a substantial property loss, you may find yourself overwhelmed by the time and labor demands of evaluating, documenting your loss and submitting the claim paperwork. Many people describe their insurance claim experience as overwhelming – almost a full time job, something they rarely have the time or stamina to take on. When you hire a public adjuster from the get go, most of these responsibilities fall on him/her – from interpreting the insurance policy, to appraising and documenting the losses, to meeting with the insurance representatives or building/restoration contractors.
2. Public Adjusters Offer Expert Representation
When your financial future depends on it, it may not be in your best interest to handle the property claim yourself. After all, you would not go to court without a lawyer, and you do see a doctor when you’re sick (hopefully..) Just the same, if you’d like your interests properly represented in the insurance claim process, an experienced public adjuster is the way to go.
More than that, unless you hire your own adjuster, you will have to rely on the appraisal and loss estimates prepared by the insurance company’s adjuster. An insurance adjuster that you will not know how much experience he has. An Insurance adjuster that has to look out for the interests of his employer, however benevolent he may want to be. An insurance adjuster that has no vested interest in your claim, but to get it settled as soon as possible, as advantageous to the insurer as possible.
3. Public Claim Adjusters Bring Peace of Mind
Is not an issue of debate anymore that hiring a public adjuster makes financial sense. Public claim adjusters know how to properly deal with the complexities of a claim, understand the insurance policy and thus are able to get larger settlements. But we think the most important role a public adjuster plays, especially in times of crises, is that of helping relieve the stress of filing the claim and being an advocate for the insured in the claim process.
Having an expert adviser on your side, to answer your questions during the claim process, help with the decision process, document the claim, file the paperwork and advocate for your interests throughout the claim process, brings peace of mind and is often the most valuable role of the public adjuster.
4. Public Adjusters Get Larger Settlements
According to an industry report on property loss claims caused by the 2005 hurricane season in Florida, policyholders who were represented by a public claims adjuster received settlements that were up 747 percent higher than those who did not employ a public adjuster. While this may not be typical for other types of claims, it shows the magnitude of how much claim payments could vary. It also proves, unequivocally, that policyholders who retain a public adjusting company with a good track record receive higher settlements than the ones who don’t.
Insurance companies are, after all, for profit businesses, with responsibilities not just to you, but mostly to their shareholders. As such, they are employing industry experts and procedures to reduce their exposure and maximize their profits. Often enough, during the claim process, the insurance company plays hardball, and with much success, as they are the 500 lb gorilla in the game.
David Berardinelli, an industry insider who has advised Allstate, Farmers and other insurers on cost cutting, argues that insurers will get you claim resolved promptly or fairly, but not both. Want a swift, fair settlement? Hire a public adjuster. It’s your best chance to level the playing field and get fair compensation for your property loss claim.
Michigan Fire Claims Inc.
Public Adjusters, Appraisers and Loss Consultants
Working on your behalf to maximize your claim settlement.