Filing an insurance claim can be confusing and stressful, especially when dealing with damage to your home. Unfortunately, many find that underpayments for repairs or wrongly denied claims only compound the damages they have already endured. Understanding why insurance companies sometimes fail to meet expectations of policy holders requires a solid grasp of the process and the role of those involved.
So, what is an independent adjuster, and why did your insurance company send one to inspect your property?
Independent adjusters are professionals hired by insurance companies, and typically work on a contract basis for multiple insurers at once. (These are different from internal insurance adjusters who work only for that company.) These ‘guns for hire’ are often called in as reinforcements when a catastrophic weather event happens and insurance companies are flooded with claims. When this happens, the sheer volume overwhelms the insurance adjusters on staff and independent adjusters are called in to help insurance companies respond to claims.
While they are hired to assess the claim and should, hypothetically, do so fairly, they ultimately represent the insurer's interests. Independent adjusters can often be tasked with a heavy claims load, particularly after widespread natural disasters. Rushing through property inspections can make it more likely that some damage goes unnoticed and is not accounted for in your insurance payout. This is why having an experienced Public Adjuster representing your interests can be beneficial.
While it's reasonable for homeowners to believe they can count on their insurance company to offer solutions when a property loss occurs, especially since premiums have reached a record high of $2,230 per year (Todoroff, 2024), this is rarely the case.
Public adjusters are licensed professionals who work exclusively for the policyholder, not the insurance company and they advocate on behalf of the insured for the compensation they are owed for their claim. Learn more about what a Public Adjuster is here.
Unlike independent adjusters, Public Adjusters are not hired by the insurance company. They represent the policyholder (aka you), and can help handle the entire claim process, from documentation to negotiation, making it smoother and less stressful.
The primary benefit of hiring a Public Adjuster is that they will focus on getting you the compensation you deserve. Since a single claim with your home insurer could raise your premiums as much as 29 percent when it comes time to renew, you should take full advantage of your coverage and avoid being shortchanged (Asis, 2022). With extensive knowledge of insurance policies and the claims process, Public Adjusters know what to look for and how to document it properly, ensuring nothing is overlooked.
If you need a claim solution champion in your corner, the experts at Tiger Adjusters are ready to assist. We can provide experienced guidance, unwavering support, and peace of mind throughout the property claims process. Reach out today to discuss your claim with a licensed Public Adjuster in your area.
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References
Todoroff, Natalie. (July 1, 2024). Average homeowners insurance cost in July 2024. Retrieved July 2, 2024 from https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-cost/
Asis, Alani. (February 28, 2022). A homeowners insurance claim will most likely mean higher premiums. Here's how that works. Retrieved July 2, 2024 from https://www.businessinsider.com/personal-finance/does-homeowners-insurance-go-up-after-a-claim
