A Public Adjuster is a consumer advocate licensed state-by-state to represent policyholders (homeowners and commercial property owners) in negotiations with their insurance carrier. They have a responsibility to work in the financial best interest of the policyholder.
While most people hope they never need to file a property insurance claim, experiencing a fire, theft, plumbing issue, extreme weather, or another peril that results in damages is more common than we'd like to believe. The latest available data shows that more than 5% of insured homes filed a claim in 2021 (Insurance Information Institute, n.d.).
When these unfortunate circumstances arise, your insurer will send an insurance adjuster to review the damage to your property and determine the amount of your losses and policy coverage. In many cases, the insurance adjuster will wrongly deny the claim or offer a settlement far less than what is owed under the policy. Remember that an insurance adjuster’s allegiance is to the insurance company, not you, the policyholder.
Frustration and a lack of awareness about the available options can lead homeowners to accept low-ball offers and pay out-of-pocket to complete necessary repairs. However, hiring a Public Adjuster is an alternative to accepting the insurance company’s initial offer.
While the insurance adjuster is working on behalf of the insurer, Public Adjusters represent the policyholder’s interests when evaluating damage, interpreting policy, and negotiating to reach a fair settlement.
With rapidly rising home insurance premiums expected to climb another six percent nationwide this year, it's critical that homeowners receive the coverage outlined in their policies, and the settlement they are due when they file a claim (Sheets, 2023).
In most U.S. states, you have the right to hire a Public Adjuster to represent your interests whenever you file a claim with your property insurance company (even before a denial or underpayment).
A Public Adjuster will assess the damage or loss, thoroughly document the damage, review your insurance policy to determine coverage, prepare a loss estimate, submit the claim, and negotiate with the insurance company to ensure that the claim is handled fairly.
They typically receive a percentage of the final settlement amount in exchange for this representation, on a contingency basis. (Learn more about how Public Adjusters are paid here.)
Hiring a Public Adjuster to handle property damage claims can be very effective. A 2009-2010 review of non-catastrophic claims in Florida (those unrelated to a declared state of emergency) found average payouts were more than 500 percent higher when a Public Adjuster assisted. Similarly, the increase in catastrophic claims was nearly 750 percent (FAPIA, 2010).
There are several reasons why qualified Public Adjusters, like the team at Tiger Adjusters, can often negotiate a better settlement for your claim.
Their knowledge and experience provide an advantage when navigating the complexity of insurance policies, claim procedures, and property damage valuation. Insurance companies may try to exploit a homeowner's unfamiliarity with the process or rely on vague language in the policy to avoid a larger payout or to delay settling the claim despite regulatory timelines. A Public Adjuster is prepared for these tactics and can offer a strategic approach to countering them.
Also, unlike insurance company adjusters representing the insurer's interests, a Public Adjuster can prioritize your interests and provide the evidence to support their findings. You won't have to worry that the insurance company is taking advantage of you during a difficult situation, and while your focus is on more immediate concerns, as is often the case in the aftermath of a loss.
If your claim might benefit from a Public Adjuster, some best practices can help you find the right one. Start by checking with your state's licensing authority to ensure that any Public Adjuster you consider is licensed and in good standing. You may also be able to view previous complaints or concerns from clients via the state's database. Looking for client testimonials and reviews is another effective way to investigate whether they will match your needs.
Discuss your claim in detail with any Public Adjuster before agreeing to be represented by them. You will want to work with someone knowledgeable about your type of claim and familiar with state guidelines pertaining to your insurance claim. It's also important to clearly understand the fee structure you are agreeing to.
Be wary of Public Adjusters who cannot provide a license number or who make unrealistic promises. A reputable Public Adjuster will provide an honest assessment of the damage and set realistic expectations which should be outlined in their contract. All Tiger Adjuster Public Adjusters are licensed in the states they operate in. In addition, they provide a Letter of Representation that clearly and legally outlines costs and responsibilities at the beginning of their working relationship with a client.
Start your search for your Public Adjuster with the Tiger Adjusters team. We are experienced in both residential and commercial property insurance claims and are ready to help you pursue a fair settlement from your insurer. Contact us today to learn more.
Insurance Information Institute. (n.d.). Facts + Statistics: Homeowners and renters insurance. Retrieved July 2, 2024 from https://www.iii.org/fact-statistic/facts-statistics-homeowners-and-renters-insurance
Sheets, Cassie. (2023). Insuring the American Homeowner. Retrieved July 2, 2024 from https://insurify.com/homeowners-insurance/report/home-insurance-price-projections/
FAPIA. (2010, January 13). OPPAGA Report No. 10-06. Retrieved December 22, 2023 from https://www.fapia.net/value-of-a-public-adjuster.html
