According to the Insurance Information Institute, 6% of the insured homes in the U.S. filed for a claim in 2017. Home or business owners who experience property damage normally have to spend lots of time during the claim process. In most cases, your insurer will hire an insurance adjuster to mitigate the claim on their behalf. For this reason, it is also advisable that you hire one. In this post, we discuss the top five reasons why you hire a public adjuster.
1. It saves you time
Once you file your claim, you will have to create time to follow it up and submit the documents required. This can prove quite tedious if you have to juggle it with your job. Not following up on claim can result in you being under-compensated or your claim being annulled altogether. A public adjuster not only oversees your claim but also minimizes the time you spend dealing with arising issues.
2. They offer valuable advice during claim preparation
Preparing all the documentation required when filing an insurance claim is often overwhelming even for the most organized people. As they have dealt with multiple clients, adjusters know exactly what documents to provide to your insurer to expedite the settlement process. You must thoroughly document everything that was lost for your claim to be valid. They will also ensure that the documents are error-free.
3. They will work towards a higher payout
Most insurance companies face a conflict of interest once you file a claim. They want to make profits and keep the policyholder happy. Consequently, they offset a lower claim amount to protect their finances.
A public adjuster has your best interests at heart. They care about maintaining a good reputation and advancing in the industry. They are also keen on creating positive reviews for the sake of their business’s future. For these reasons, a public adjuster will seek to be as efficient as they can. They will also provide you with the correct value of the damages. They will take up the claim with your insurer and handle it as though they are the ones who suffered the loss.
4. They provide you with expert policy interpretation
A public adjuster is knowledgeable about property insurance bylaws and policies. Besides, they go through continuous training and certification to stay up to date with insurance laws. Your public adjuster will provide advice on how to protect your commercial or residential property. Most property owners do not understand how far their policy covers them. This knowledge from a public adjuster comes in handy when it comes to negotiating your claim.
5. They have contacts with reputable contractors
Public Adjusters speed up the recovery and payment process. A qualified team of public adjusters know when and what information to give the insurance company in order to ensure that the claim is always moving forward, and payments are being made. An unqualified individual, such as a contractor or property owner, will often make mistakes that are kicked back from the insurance company, causing delays, not only in the claim process, but in the payment process. Public Adjusters will speed up your recovery, as well as enhance the value of your recovery.
All factors considered hiring a public adjuster makes practical sense. Also, most public adjusters will not ask for payment until you are paid. If you or someone you know has been frustrated by insurance companies, a reputable public adjuster might be just what they need.