A public adjuster advocates on behalf of the insured during a claim settlement process. They possess the same skill set as other claims adjusters but do not owe any allegiance to insurance companies. Thus, hiring one evens the ground on which your claim gets settled. In addition, you pay an adjuster a percentage of your sum assured to ensure a win-win situation for you. So, how exactly does hiring a public adjuster saves money?
Hiring a public adjuster can help you obtain the optimal insurance settlement. This is money you are entitled based on your insurance coverage. A public adjuster possesses crucial knowledge when negotiating complex sums. It understands the intricacy of each settlement process and policy that many do not. Therefore, having a public adjuster ensures that you will get the best deal.
Help You Focus
In the event of a disaster, you are most likely focused on negotiating with the carrier. In the meantime, your business may be struggling with employee and client retention. Hiring a public adjuster can help you assess your goals and make sure you achieve them by implementing a creative strategy. They can also help you manage your claims allowing you to solely focus on your business.
Ensure You Are Insured Correctly
A public adjuster just knows what you need to look out for when purchasing a policy. This includes specific insurance coverages such as adequate inflation factors, built-in code compliance payments and dependent property coverage. Public adjusters assess your property and recommended insurance policies ensuring that you are not under or over-insured.
Licensed, Bonded Professionals
In order to become a public adjuster, one has to pass a specialized exam to receive their license. They must also pass a criminal background check, be bonded, and continue their industry education. They are also held to a high standard which further cements their reputation. This ensures that you will receive the best help to prevent you from experiencing monetary loss.
Will Negotiate For Fair Value
Public adjusters are known to have good negotiation skills. Their primary goal is to help ensure that clients receive a fair value for their claim, which sometimes can be difficult depending on the insurance company. Even though insurance companies are not in the habit of ripping off their clients, they may still miss a few key pieces of information.
Faster Resolution of the Claim
Dealing with an insurance company is probably the last thing someone would want to do. In some cases, it might even force you to miss work. Not only does an adjuster do all your claims for you, but they will be able to resolve the claim faster so that you can get on with your life.
Suppose you have the energy, time, and ability to evaluate your losses, read your policy to understand your rights, and determine the value of your compensation, then you might not need to hire a public claims adjuster. But if you are unsure about any of these, then a public adjuster can do all the work for you.