During the Malibu wildfires, a significant number of homeowners lost their homes. For example, several prominent celebrities shared photos of their destroyed homes on social media with many of the homes completely burned to the ground
4 Reasons Why High Net Worth Homeowners Should Work with a Public Adjuster
Time Savings: One major reason high net worth homeowners should work with a public adjuster is to save time. While most people lead busy lives, the schedules of high net worth individuals tend to be particularly busy. In most cases, these individuals have far more vital priorities to tend to than dealing with the demands for documents and information from insurance companies. A public adjuster will manage and organize your claim to reduce the amount of time you spend filing the claim.
Claims Expertise: Another reason high net worth homeowners should work with a public adjuster is due to their claims expertise. If you don’t have much knowledge or experience when it comes to interpreting insurance policies, it is easy to miscomprehend these documents. Therefore, it is important to have a professional on your side who is familiar with the process of filing a claim as well as familiar with the language commonly used in insurance policies. High net worth individuals tend to have very high-value homes.
This means that there is a significant amount of money at stake if a claim is not filed correctly. The claims expertise of a public adjuster also means that your claim will be resolved faster. Your public adjuster will provide all the right information and documents to your insurance carrier the first time to prevent repeated requests for more information.
Protect Your Rights as a Policyholder: If your high-value home was destroyed in a wildfire, it is particularly devastating if your claim is denied. Therefore, it is important that you have a public adjuster on your side to protect your rights as a policyholder. In the event your claim is denied, you will still have an advantage if your public adjuster has a good understanding of the expectations of the insurance company when valuing and documenting your claim.
Ensure Fair Value for Your Claim: Many homeowners believe that they are capable of estimating the value of the loss of their home. However, many studies indicate that public adjusters are able to negotiate significantly larger insurance company settlements for both homeowners and commercial businesses. This is especially true when wildfires or another catastrophic event occurs and insurance carriers are forced to process any claims. In general, policyholders tend to significantly underestimate the value of a claim.
As you can see, even high net worth homeowners have a lot to benefit from working with a public adjuster. For more information about why high net worth homeowners should with a public adjuster, don’t hesitate to contact SunPoint Public Adjusters, I