Facts about a Public Adjuster
What is a Public Adjuster?
A Public Adjuster is licensed by the State Insurance Department to represent a policy holder in a negotiation of a fire claim or other with his/her insurance carrier. The adjuster has special training in determine damages and has the insight into the actual insurance coverage. The insurance policy with all its separate clauses, coverage and endorsements is a complex contract and without representation the policy holder has no way of determining exactly what he/she is entitled to collect on their claim. It would seem logical that the insurance company is not about to pay out monies without first putting the burden of proving the amount of damage on the insured.
By retaining a Public Adjuster to represent him/her in a fire claim, he/she gains the professionalism needed to extract from the insurance company the proper amount due to him/her. The fee charged by the adjuster is far less than is the norm of an attorney.
At the time of a loss the policy holder is usually bewildered and needs someone to point him/her in the right direction. Each individual policy affords the insured different coverage, penalties, and requirements when a loss occurs.
If an insured has a policy covering fire on a building that he/she owns, he/she is entitled to collect for all structural damages less a fair amount of depreciation. The adjuster will meet with the insurance company representative and his/her appraiser and negotiate damages and depreciation facts in the insured's behalf. The same policy may also afford the insured coverage for his/her loss of income while the adjustment is in progress and for reasonable length of time to repair the premises. The average policy holder very rarely is aware that he/she may be covered for rental income and the insurance company may not take the time to enlighten him.
The adjuster will immediately know, just be reviewing the policy and its endorsements. In a case where an insured has coverage for any loss of personal property the adjuster keeps in his/her employ, specialists who will make a detailed inventory and separate damaged personal property from undamaged personal property as is required by the insurance company. With this in hand, the adjuster will meet the insurance company representative and go through this inventory item by item and determine both loss and value. The adjuster does all the work for you.
FREQUENTLY ASKED QUESTIONS FOR RETAINING A PUBLIC ADJUSTER
What will you do for me?
A public insurance adjuster will advise and assist in the presentation of your claim with our staff of inventory experts and building consultants. We will also handle all the necessary details for compiling and filling claims, as required by the terms and conditions of your insurance policies. We will confer with your company and handle all negotiations essential to acquire the maximum benefits in the adjustment of your claim.
Who currently uses public adjusters?
Attorneys, accountants, major corporations, small business owners, private home owners, managing agents and realtors.
Do you engage in any other business?
How do you assist me?
It is up to you to prove your loss. There are many questions and provisions within your policy that should be applied in different circumstances. We are your experts, will guide you through the questions and assist you to prove your loss to acquire the maximum recovery of your claim.
Will my insurance agent or broker help me in the adjustment of my claim?
They serve you at all times in connection with your insurance coverage. They generally do not have the time, training or facilities to render the highly specialized service of insurance adjusting.
Will the insurance company recognize you as my representative?
Yes of course! Most companies prefer to work with an experienced adjuster instead of the insured.
Do you take any other claims other then fire?
Yes, we will assist you in any claims of loss against any insurance company under the fire coverage and allied lines. This include: windstorms, lightening, explosions, hail, floods, pipe breaks, water damage, smoke, boiler puff-back, vandalism, motor vehicle damage, business interruption and others.