February 23, 2024

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What is a Public Adjuster and Why Should You Hire One?

When an individual applies for home insurance, the insurer then sends a “public adjuster” to evaluate the damage and then decide the claim payout. Here, the payout is based on the cost to replace or repair damaged property or a structure.

But there are some people who think they might not receive a fair payout. Others might think that they don’t know much about the things that are covered under the home insurance policy.

But there is nothing to stress over when you have professional public adjusters beside you. They will take care of the claim process and also make sure that the payout you receive is fair.

Public adjusters: A brief definition

Public adjusters are trained and independent insurance experts who can take care of the home insurance claim method. Compared to an adjuster of an insurance firm, the public adjuster Fort Lauderdale is ideal for all the policyholders out there. They are highly experienced and licensed individuals.

Experts say that the monetary interests of the insurance firms are served by all convincing policyholders to accept lower compensation. But the financial interests of the public adjusters are tied directly to the policyholder’s interest. This helps them get fair and full compensation on home insurance claims.

Public adjusters can conduct the damage analysis five times better than adjusters from insurance firms. It’s mainly because of their training and staying loyal to the policyholders and not the insurance firm.

Reasons to hire a professional public adjuster

You will not come across any rules when it comes to hiring public adjusters. But there are several situations where you need their assistance:

  • When you’re filing a big claim for a complex, high-value, or significant damage to the property, such as a fire or hurricane.
  • When you’re not that satisfied with the assessment conducted by the adjuster from the insurance company.
  • When the adjuster from the insurance company has underestimated the claim or if the payout you receive is not fair.
  • If you need help with a claims process or a complicated claim process.

The cost to hiring an experienced public adjuster?

The majority of the public adjusters Fort Lauderdale will take a percentage of the overall claim payout. Their compensation falls below 3% or can be over 30% of the insurance settlement. But it will depend heavily on the size of your insurance claim.

For example, let’s say you receive a final payment of 430,000, and your public adjuster will charge 10% of that amount. So, you will pay them around $43,000. They have an hourly rate and flat rate fee structure as well.

Besides that, the cost of the public adjuster will depend on the

  • Nature of the home insurance claim
  • Where you reside
  • The fee structure
  • The public adjuster you pick

You should obtain countless homeowner insurance quotes when you’re planning to hire a professional public adjuster. Otherwise, you can estimate to learn how much you have to pay the adjuster based on your location and claim type.

Final Thoughts

Public adjusters are a much better option than the insurance company’s adjuster. They will take care of the whole home insurance claim procedure and will make sure that you receive a fair amount. They are extremely skilled and will get the work done quickly and effectively.