No matter how many preparations you make, natural disasters happen and they can completely destroy your home or business. That’s why property insurance exists. Did you know that 1 in 20 insured homeowners end up filing a property damage claim every year?
Navigating the property insurance claim process on your own proves confusing for most people. Hiring a public adjuster can help.
Learn more about public insurance adjusters and their role in the claims process below.
What is a Public Insurance Adjuster?
Filing an insurance claim requires a lot of time, paperwork, math, and understanding of the insurance industry. As a policyholder, you probably don’t know a lot about the intricacies of your policy and the insurance industry as a whole.
An insurance adjuster helps you to file your claim or dispute the amount offered by your insurance company.
Most policyholders simply use the adjuster their insurance company provides as a part of their service. However, sometimes a policyholder prefers to hire an outside, public insurance adjuster.
4 Reasons to Hire a Public Adjuster
Are you trying to decide between using the insurance company’s adjuster and hiring your own public insurance adjuster? Here are 4 reasons why someone may choose to hire a public adjuster instead.
1. Poor Communication
Before you decide to go with a public adjuster you need to speak with the adjuster provided by your insurance company. Ask them questions and get a feel for how you communicate with one another.
If you feel that the adjuster doesn’t quite understand your claim or isn’t listening to your concerns, then it’s time to look for public representation.
2. Get a Fair Settlement
When you hire an outside, public insurance adjuster, they work for you and not the insurance company.
This guarantees they have your best interests at heart. They want to achieve an outcome most favorable for you rather than the insurance company.
3. Defend Your Policyholder Rights
Hiring a public adjuster to get a second opinion on your claim helps you know for sure the provided adjuster hasn’t low-balled your loss estimate. An adjuster can also point out any other losses the policyholder may not know they have a right to claim.
A public adjuster will fight against the insurance company’s decision if you think they offer too little. Or if you disagree with their interpretation of your policy’s wording.
4. No Time to Deal with the Process
Finally, people often choose to hire a public insurance adjuster simply because they don’t have time to play an active roll in the process.
A public adjuster knows the industry and the lingo. They also have experience dealing with the complicated math and calculations used in claims forms.
Hiring a public adjuster to work on your claim means it gets the attention and expertise needed for acceptance.
Finding the Best Public Adjuster Near Me in Puerto Rico
Now you should know when you to consider hiring a public insurance adjuster rather than going with the company-provided one.
A public adjuster will often evaluate your claim for free before deciding whether to take it on. They do charge a fee, but the greater number of losses claimed and larger payout outweighs this.
Are you looking for the best public adjuster to help you file a claim in Puerto Rico?
Look no further than Global Claim Advisors!
Their property insurance experts dedicate themselves to helping policyholders get a successful resolution for their claim. Contact Global Claim Advisors today to start the evaluation process and get more for your property insurance claim!
Have you just suffered property damage and don’t know what to do? Do you need help making sure that your home, car or rental property is restored to its former condition?
For more information about a property damage insurance claim, check out this simple guide!
Property Damage Insurance Claim Process
To get the claims process started, you have to call your insurance company to report the damage. Once you have a claim number, your company will send an insurance adjuster to examine the property and determine the amount of money you will receive. The amount you get from the insurance company depends on your level of coverage and the extent of the damage.
If the property damage claim involves a vehicle collision, there will have to be a determination of who is at fault. Depending on the state where the accident takes place, there are several factors in determining who is legally responsible for the accident.
Regardless of who is found to be responsible for the property damage liability, you will have to pay your insurance deductible. This is usually between $250 and $500.
In the event of a burst pipe or fire, your insurance company will usually tell you to contact a damage mitigation specialist. This will prevent further destruction from happening. Depending on your policy, your insurance will likely cover any emergency repair costs.
Unless your policy covers your possessions, you may need to get further coverage to make sure everything is paid for. You will also need to provide a detailed list of any damaged items so the insurance company can provide you with a check for their cash value. You should know that luxury items like jewelry or family heirlooms will likely need extra policies if their value exceeds your level of coverage.
Repairs and Recovery
Once the damage to your home or property has been assessed, you will need to contact contractors to get quotes for any needed repair work. You should also make sure to get at least three quotes from different contractors to get the best possible deal.
Depending on how your insurance company wants to proceed, you will either receive a single check for all the repair work or pay the contractor directly. Before signing any paperwork, you should always check with your insurance provider first. If you sign a “direction to pay,” you are effectively giving control over the project to your contractor.
If you receive a check to cover the costs of repairs, you should make sure that all work is done to your satisfaction before paying. If your insurance company ends up signing off on shoddy work, you may be left holding the bag.
If your home or rental property is damaged to the point where it is unliveable, you will also receive additional living expenses or an ALE check. This money will help pay for things like meals and hotel rooms while your property is being fixed.
Happy Home and Happy Wallet
Property damage claims can seem scary and overwhelming, but there are simple solutions. All you need to do is read your policy, know your coverage level and follow your company’s process.
If you need help getting coverage or dealing with a property damage insurance claim, check out Global Claim Advisors today!
Insurance is the backbone of your business. Every entrepreneur and business owner needs to know that their livelihood is secure in the event of a disaster or accident.
Insurance companies know this too, which is why they paid out a record-breaking $135 billion to home and business owners in 2017, following a particularly severe year for natural disasters.
Contrary to what some people might believe, insurers want you to be appropriately covered in the event of an accident, which is why they routinely send out claims adjusters to assess the damage.
But what do insurance adjusters do? Essentially, they’re the people who will figure out how much insurance money you’ll get and what it is you’ll need to get back on your feet.
If you’re wondering “What does a claims adjuster do?”, read on to find out.
What Does a Claims Adjuster Do: The Basics
So what does an insurance claims adjuster do? Put simply, they will come to your damaged property and assess whether or not the insurance company needs to pay a claim to you and if so, how much.
They have a number of duties which are wide-ranging. They will determine whether your policy actually covers the loss you’ve suffered. Then they’ll have to assess whether the case is fraudulent or not, before calculating how much needs to be paid.
After this, it’s their job to contact people close to the claimant, such as doctors and employees, to gather more relevant information. Then they are tasked with negotiating the settlement and processing the payments.
Different Kinds of Claims Adjusters
Before you can confidently know what does an insurance adjuster do, you should be aware that there are three different types of claims adjusters.
The first and most common type is the so-called ‘company adjuster’. These are, naturally, people who work on behalf of your insurance company to assess claimant’s cases and calculate settlements. The vast majority of claimants will deal with this kind of claims adjuster.
Another type is what is known as an ‘independent adjuster’. These are from independent companies and agencies but will be hired by insurance companies on a case-by-case basis. They report back to the insurance company and essentially work for them throughout the case.
Some people prefer to use a truly independent adjuster, as they may not trust one working for the insurance company. This is where ‘public adjusters’ come in. These are hired by the actual policyholder, often out-of-pocket, to assess the claim on their behalf.
It’s worth noting that the first two types of claims adjuster won’t cost a claimant any money, as they just bill the insurance company for their work. A public adjuster, however, will cost you.
More Than Just Money
Those wondering what does an adjuster do might be surprised to find out that it’s not just about the money. Their main goal is to calculate the material loss your business has experienced, but that’s not the whole picture.
They will also assess any physical, mental, or emotional injury you may have suffered, which will also factor into the claim.
They will examine police records and work with authorities if it is believed a crime has been committed. They basically cover all angles.
Now when someone asks you “What does a claims adjuster do?”, you’ll be able to answer with confidence. If you have a claim to make and want to know more about how an adjuster can help you, don’t hesitate to get in touch with us today for all of the expert advice you’ll ever need.