Dealing with an insurance claim can feel overwhelming. Between paperwork and deciphering confusing policy language, the process can seem like you need a law degree to understand. That’s why having the right adjuster can make all the difference in securing the settlement you deserve.
But not all adjusters are the same. This guide will help you understand the differences between public adjusters and independent adjusters, and how choosing the right one can impact your insurance claim outcome.
Who Is a Public Adjuster?
A public adjuster is hired by you the policyholder to represent your interests during the claims process. Their main goal is to ensure you get the maximum settlement possible. They gather evidence, document damages, file paperwork, and negotiate with your insurance company on your behalf.
Key advantages of a public adjuster:
Expert claim management
They handle the entire process from documenting damage to filing paperwork.
Maximizing settlements
They fight to get every dollar you’re entitled to.
Advocacy
Public adjusters work solely for you, not the insurance company.
Public adjusters are especially helpful for large claims or when you’re uncomfortable managing the claim on your own.
Who Is an Independent Adjuster?
An independent adjuster, on the other hand, is hired by your insurance company. Their job is to assess your claim for the insurer. They are not full-time employees but work on a contract basis, especially during high-claim periods like after natural disasters.
While independent adjusters follow ethical standards, their loyalty lies with the insurance company, meaning their goal is often to keep claim payouts as low as possible.
Key Differences Between Public and Independent Adjusters
Loyalty:
Public Adjuster: Works for you, the policyholder.
Independent Adjuster: Works for the insurance company.
Fee Structure:
Public Adjuster: Charges a percentage (usually around 10%) of the settlement. Their incentive is to get you the largest payout.
Independent Adjuster: Paid by the insurance company, often on a fee schedule or daily rate.
How Public Adjusters Maximize Your Settlement
Public adjusters do more than just file paperwork. Here’s how they can significantly increase your settlement:
Detailed documentation:
Public adjusters meticulously document all damage, ensuring nothing is missed.
Skilled negotiation:
They handle negotiations with the insurance company, pushing back against low offers.
Policy expertise:
Public adjusters are experts at understanding complex insurance policies, making sure you don’t lose out on hidden coverage.
Independent Adjusters: Their Role in Preventing Fraud
While public adjusters work for you, independent adjusters serve an important role in fraud prevention. They verify claims are legitimate and ensure that insurance companies aren’t overpaying on inflated or fraudulent claims, which helps keep premiums lower for everyone.
When Should You Hire a Public Adjuster?
Consider hiring a public adjuster in these scenarios:
Large or complex claims:
When your claim involves extensive damage, a public adjuster ensures you get a fair payout.
Lowball offers:
If you feel your insurer’s offer is too low, a public adjuster can negotiate a higher settlement.
Denied claims:
Public adjusters specialize in appealing denied claims and can help get them approved.
Do You Have to Accept an Independent Adjuster’s Offer?
No, you do not have to accept the settlement proposed by an independent adjuster. If the offer seems too low, a public adjuster can step in to reassess the damages and negotiate for a better payout.
Real-Life Examples: How Public Adjusters Increase Payouts
Here’s a real-world example: After a hurricane damaged a homeowner’s roof, the insurance company offered $15,000 for repairs. After hiring a public adjuster, the final settlement was increased to $50,000, covering all repair costs. These types of outcomes aren’t uncommon, and having a public adjuster can make a significant difference in your settlement.
Conclusion: Choose the Right Adjuster for Your Claim
When dealing with an insurance claim, having the right advocate is crucial. If you trust the insurance company and your claim is simple, an independent adjuster might suffice. However, for large, complex claims or if you want to maximize your settlement, hiring a public adjuster could be one of the best decisions you make.
FAQs on Public and Independent Adjusters
- What is residential and commercial property claim management? Property claim management involves helping homeowners and businesses file and manage insurance claims efficiently, ensuring accurate documentation and maximum compensation.
- How does Xactimate estimating work for building damages? Xactimate software provides real-time estimates for repair costs, ensuring claims reflect accurate labor and material prices.
- What is a detailed inventory evaluation? It involves documenting damaged or lost items with precision, ensuring all property is accounted for in the claim.
- Can I get settlement advances? Yes, in some cases, you can receive settlement advances while your claim is being processed.
- What are assisted living expense claims? These claims cover costs for temporary housing and living expenses while your home is being repaired.
- What is insurance appraisal mediation? It’s a process to resolve disputes over claim value between policyholders and insurers, often involving expert appraisals.
- What does a complimentary policy review include? A policy review helps you understand your coverage, ensuring you maximize your claim and avoid costly mistakes.
Need Expert Help with Your Insurance Claim?
Dealing with an insurance claim can feel like a full-time job. If you’re unsure about your settlement or think you might be getting lowballed, it’s time to bring in the pros. At Public Adjuster NY – Atlas Adjustments we’ve got your back every step of the way. From public adjusters to top-notch lawyers, we’ll connect you with the right experts to protect your rights and maximize your payout.
Don’t let fine print or low offers stand in your way—reach out today and let’s make sure you get what you truly deserve!
