Public Vs. Insurance Adjuster: How Are They Different?
What happens if the insurance provider you believed would have your best interests in mind does not actually have you covered in the case of a disaster? What if they conduct a poor assessment of your damage and make a lowball settlement offer? This is when hiring a public adjuster could be advantageous for you. In this article, we’ll discuss the key differences between a public vs insurance adjuster.
What Does an Insurance Adjuster Do?
There’s a well-kept secret in the insurance industry that not many policyholders are aware of when they start the claims procedure. It’s this: the insurance adjuster is appointed by the insurance company, so they do not work on your behalf.
Even though it’s unfortunate, it’s a fact that many policyholders don’t acknowledge until they need to make an insurance claim. Keep in mind that the claim adjuster appointed to your insurance case works for the insurance company, not you, when a claim is opened. Insurance providers will do everything in their power to guarantee that you obtain the lowest settlement possible since they are in the business of earning money. The two primary conditions for the insurance adjuster’s work are:
- Legal obligation: This duty is part of the policy that details your rights and the portion of the coverage you’ve agreed to pay.
- Evaluation of property damage: They do so in accordance with the parameters set by the adjuster.
The objectives of insurance firms are to achieve yearly profits, pay personnel fairly, and keep policyholders satisfied. They cannot provide the most competitive rates if they pay out more in claim settlements.
Sadly, throughout the insurance claim process, many policyholders are unaware of this. Hence, they opt to accept inadequate compensation that only covers a small portion of what is owed.
Difference in Priorities of a Public Adjuster Vs. Insurance Adjuster
Your property’s damage and loss may not be appropriately estimated by an insurance adjuster. Their responsibility is to offer a settlement that will cover your property damage, but they may overlook losses that aren’t immediately apparent. These damages might end up costing you money down the road if left unaccounted for.
A professional, licensed public adjuster will fight for you during or even beyond the claims procedure.
The public adjuster’s responsibility is to make sure you get the most settlement with the least amount of hassle.
Public adjusters will first carefully estimate the damages, taking into account losses sustained apart from any prior damage. Then, they will launch an extensive investigation that involves the following:
- a thorough analysis of the damages
- negotiating with your insurance provider
- making a deal that adequately reimburses you for your loss
Why Do Final Settlement Amounts for Insurance Adjuster and Public Adjuster Differ?
The difference in claim settlement when a policyholder chooses to engage a skilled public adjuster is astounding. Here at Stone Claims Group, we witness this regularly.
After they understand how much money they will receive from their settlement, homeowners and business owners in all areas we serve go from feeling stressed and like they were taken advantage of to feeling relieved. Our team of public adjusting experts can help you increase your claim payout, so don’t hesitate to reach out today!