The purpose of property insurance is to help you recover when disaster strikes. Ideally, you inform your insurer about the damage and receive the funds necessary to make repairs, minus a deductible. In reality, several factors can result in a settlement that falls short of making you whole financially. For example, a review of insurers in Florida found that some companies denied nearly half of all claims with no payment at all (Mower, 2024).
However, hiring a Public Adjuster can have a considerable impact on the outcome of your claim and the amount of your settlement offer. As an advocate for policyholders, they can use their skills and experience to maximize your claim payout, ensuring you get the compensation you deserve. Here are five ways a Public Adjuster can make a difference for your claim payout.
Documentation serves as the backbone of your claim. With only 47 percent of homeowners keeping a home inventory in case of loss, it’s an understandable vulnerability when making a claim (Triple-I, 2023). Public Adjusters excel in this area, meticulously gathering all necessary paperwork and evidence to support your claim. This includes photos, videos, receipts and any other relevant documents.
Accurate and comprehensive records make it easier for the insurance company’s adjuster to justify the claim amount you're requesting.
Public Adjusters know precisely what information insurance companies need, which can help to avoid delays and disputes. Additionally, Public Adjusters often use specialized software and tools to document the damage accurately and create detailed reports that can significantly strengthen your claim.
A thorough property evaluation is another critical aspect of maximizing your claim payout. Public Adjusters have the expertise to conduct thorough inspections, ensuring that every bit of damage is accounted for. Their assessment includes visible damage and hidden issues that might go unnoticed by an untrained eye, or by the insurance adjuster who is only looking out for the carrier.
Public Adjusters are trained to identify all types of damage, from structural issues to water damage and everything in between. They know where and what to look for, ensuring no damage is missed. Public Adjusters may also work with other experts, such as engineers and contractors, to get a complete picture of the damage. This comprehensive evaluation can make a significant difference in the amount of compensation you receive.
Negotiation skills are crucial to the claims process and experienced Public Adjusters are seasoned negotiators. They understand the tactics insurance companies use to minimize payouts and know how to counter them effectively.
The preparation they do gives them the leverage they need to negotiate effectively. They can often anticipate the insurer's moves and respond accordingly. It’s also a benefit that they are not as emotionally invested in the outcome as homeowners. They are better equipped to remain calm and focused during negotiations, providing a level-headed approach that is more likely to lead to cooperation from the insurance adjuster and a fair settlement for you.
Insurance policies are often filled with complex language and jargon that can be difficult to understand. Public Adjusters thoroughly understand policy language and coverage, enabling them to review your insurance policy in detail.
They will identify the coverage limits, exclusions, and conditions that apply to your claim. By understanding the nuances of policy language, Public Adjusters can also identify areas where you may be entitled to additional compensation. Rather than trusting the carrier to prioritize your interests, a Public Adjuster can leverage the policy in your favor.
Experience is valuable when dealing with insurance companies, and Public Adjusters bring much of it to the table. They understand the intricacies of the claims process and often have carrier-specific, and state-specific knowledge thanks to years of experience. State deadlines for settlements vary widely, and without a professional to assist you, insurers in some states could delay your claim indefinitely (Gimbel & Nieves, 2024).
Public Adjusters may have established relationships with insurance companies and a clear understanding of their processes and procedures. This familiarity enables them to navigate the claims process more efficiently and effectively. They are unlikely to be surprised by an insurer’s response or approach to a claim and can implement a plan to react strategically. This expertise is a significant advantage for property owners seeking the compensation they deserve.
Get all the benefits of a Public Adjuster with an experienced professional from Tiger Adjusters. Our team will work to get you the fairest settlement from your insurance company as quickly as possible. Speak with an adjuster today to begin your path to repairing your home.
Mower, L. (2024, June 27). These Florida property insurers are ‘stiffing’ half their customers, secret data shows. Miami Herald. Retrieved August 29, 2024 from https://www.miamiherald.com/news/politics-government/article289563388.html
Triple-I. (2023). Homeowners Perception of Weather Risks 2023Q2 Consumer Survey. Insurance Information Institute. Retrieved August 29, 2024 from
https://www.iii.org/sites/default/files/docs/pdf/2023_q2_ho_perception_of_weather_risks.pdf
Gimbel J. & Nieves S. (2024, May 30). How long do home insurance claims take? Policygenius. Retrieved August 29, 2024 from https://www.policygenius.com/homeowners-insurance/how-long-does-it-take-for-homeowners-insurance-to-pay-a-claim/
