What is a Public Adjuster?

What is a Public Adjuster? When you file a home insurance claim, your insurance company sends an adjuster to you to assess the damage and pay the claim. In most cases, your claim depends on the cost of repairing or replacing any property damage. But imagine if you are not provided the right amount or do not know what is covered and what is not under your insurance policy. A public adjuster helps you with the claims process and gets you the right amount for your coverage. It means whether you have received the correct coverage for your loss or not.

What is a public adjuster, and what is its role?

A public insurance adjuster is an educated insurance professional who helps people in the homeowner’s insurance claim process. Unlike an insurance company adjuster, a public adjuster works specifically on the policyholder’s behalf. A public adjuster is a licensed holder of an insurance professional. The public adjuster’s financial interest is to obtain complete and fair compensation to the policyholder on an insurance claim.

What is the work of a public adjuster?

• The main task of a public adjuster is to ensure that insurance claims are settled between the policyholder and the insurance company. Apart from this, the public adjuster does some other work.
• Estimate damage and estimate the cost and time for repairs to a property or structure.
• Understand the insurance policy, keep track of the claim, fill out the documents, and settle your claim within the time limit.
• Acts as a liaison between you and the insurance company or a third-party solicitor.
• Talk with the insurance company to get you the correct claim amount.

What is the right time to seek help from a public adjuster?

There are certain circumstances when you need a public adjuster.

• When your home gets damaged by a major accident, such as a fire, flood, or storm, file a big claim to compensate for the loss caused by this.
• When you are not satisfied with the claim assessment sent by your insurance company,
• When your insurance company’s adjusters undervalue your claim or don’t pay you correctly,
• When you need help resolving a complex claim or claims process,

How much does a public adjuster cost?

A public adjuster typically charges 1% percent of the total claim payment as a fee. Depending on the amount of your claim, it can be as low as 3% percent to 30% percent. For example, if your final claim payment is $250,000 and your public adjuster charges 10%, you pay approximately $25,000. Apart from this, some other charges include hourly charges. Apart from this, the cost of the public adjuster is decided based on your claim amount, location, and a few more things.

What should one think about when appointing a public adjuster?

• You should know that for a home insurance claim, the public adjuster drives your attention toward the policy and helps you with something you don’t know.
• It gives you the advantage of receiving the amount as a claim, which is your right.
• Not only this but when you feel tired with the process of claim processing, the public adjuster will help you get your claim paid at the right time and in the right amount.
• Also, a public adjuster will save you thousands of dollars in claims processing expenses.

Difference between a public adjuster and an independent adjuster?

The difference between a public adjuster and an independent adjuster is simple:

• Public adjusters work for the policyholder. Their main job is to get the claim and deliver the correct expenses of repair or replacement costs to the policyholder. Apart from this, they estimate the coverage, handle complex claims, and keep track of claims.
• Independent adjusters work to estimate the claims sent by the insurance company, and they work for the insurance company.