05 May What is a Claims Adjuster?
What is a Claims Adjuster? A public claims adjuster, also known as an insurance adjuster, public adjuster, public insurance adjuster, insurance claims specialist, or private adjuster, is a professional advocate for a policyholder who helps assess, appraise, and negotiate the amount of monetary compensation a person should be paid out by an insurance company for any claims made on covered damage to their home, business, vehicles, assets, or relevant property.
A claims adjuster who represents the rights of the insurance company is known as a Company Adjuster or Independent Adjuster.
This is why it is often absolutely important for policyholders to utilize the services of their own claims adjuster in order to get a fair settlement.
Filing a damage claim after a disaster or damaging event is incredibly stressful without adding extra hassles or headaches from the insurance company.
Do I need a claims adjuster for every damage claim?
Policyholders don’t always need the help of a public adjuster but more often than not, the assistance is critical (and especially wise for any claims above $10,000).
When do I call a claims adjuster?
As a rule of thumb, the biggest settlements come when the policyholder calls the public adjuster from the very beginning, allowing their professional claims specialist to properly assess and document the damage and circumstances from step 1.
Many homeowners or policyholders will hire an adjuster only when they become unhappy with the adjuster who has been assigned by the insurance company, but this can add another 30-60 days to the process and force both parties to revisit the elements already gone over, making the job more difficult for the public adjuster who is forced to step in and play catch up.
Is a claims adjuster worth the cost?
A good public adjuster will work on your behalf to get you every cent of value out of your claim, but even with a good public adjuster, the insurance company is not going to comply with everything a policyholder feels is fair.
Yet even within the limitations set forth by the insurance company, according to statistical facts put forth by the Florida Legislature’s Office of Program Policy Analysis and Government Accountability, policyholders who hire a Florida public adjuster receive over 5 times more money than those who don’t.
And according to average claims data, policyholders who hired a public adjuster for non-catastrophic claims received 574% more in their settlements than those who handled the claims themselves.
That is a very large return on investment.
The fact that they only get paid when you do, and receive a small percentage off the top of the claim settlement is a strong motivating factor, and their professional knowledge and experience enables them to ensure that your claim is not minimized.
Where do I find a good claims adjuster?
Now that you have an answer to what is a claims adjuster, it’s time to figure out how to find the right one.
Word of mouth, referrals from trusted sources, and community reputation are three of the biggest factors for choosing a good public adjuster and avoiding a fly by night company.
If you live in South Florida and ask around, you will likely run into contractors, business owners, homeowners, boaters, and commercial managers who will recommend Reliant Adjusters Group out of Boca Raton. Tom is an experienced and well-liked claims specialist who will help you get the best settlement on your claims.
Feel free to check out his public insurance adjuster’s website for more information or give him a call (561) 929-9826 to inquire about references or discuss your claim needs.