Should Homeowners Hire a Public Adjuster After a Loss?
In the case a homeowner finds their house damaged by any insured perils, they must take care of several things simultaneously to get their home back to its standard shape. Some of the tasks involved are finding a trustworthy contractor to restore the house and collaborating with an insurance company adjuster to make rightful claims and settle coverage-related issues if any. Most homeowners hire a public adjuster to help them through the claim process. However, an important question to be asked here is: Do homeowners need a public adjuster?
Who Is a Public Adjuster?
In general, a public adjuster is responsible for more or less the same tasks as a property adjuster hired by an insurance company. However, there are a few key differences between the key responsibility areas of the two. Since an insurance adjuster is on the payroll of an insurance company, they work primarily to protect their employer’s financial interests. Public adjusters, on the other hand, are hired by homeowners and work towards safeguarding the interest of the homeowners first.
Public adjusters have the same background as an insurance adjuster and hold expertise in the area of insurance claims and home property claims. Most public adjusters also have relevant experience,
training, and skill set to match that of an insurance adjuster. Public adjusters can be trusted with:
1.Studying and analyzing policies and using their knowledge to address any coverage-related
issues
2. Evaluating property damage
3. Evaluating contractor estimates
4. Reviewing claims
5. Negotiating all claim settlements
Do Homeowners Need Public Adjusters?
It is not easy to handle property claim details, especially for homeowners who are in the middle of a significant incident and find themselves burdened with several responsibilities at once. It is, thus, a good idea to hire public adjusters as their knowledge and experience can come handy while dealing with an insurance company. Moreover, with a public adjuster by their side, homeowners can focus on other essential tasks. However, the correct answer to the question,’ do homeowners need public adjusters? depends on several factors. Before hiring a public adjuster, homeowners must ask themselves these questions.
How Bad Is the Damage Caused?
If you are dealing with minor damage, it is unlikely that the insurance company will give you a tough time. It is because in the case of minor damages, the potential insurance amount is usually less, and thus, it is easier to calculate and make a property claim.
However, if you are dealing with significant damages, claim-related undertakings become complex, and therefore, the likeliness of errors happening also increases. Moreover, since in the case of catastrophic losses, the potential insurance amount is significant, the chances of underpayment increase. Similarly, the possibility of delayed settlement issues also increases. Thus, in the case of major damage, homeowners should consider hiring a public adjuster.
Are You Dealing with Coverage Issues?
If you find yourself handling coverage issues, it is a good idea to hire a public adjuster. Company adjusters inform homeowners about coverage-related issues, either formally or informally. The company adjuster will either get on the phone to explain the matters to you or meet you in person. They may also choose to refuse to handle your claims or demand you to sign a waiver that gives them the authority to investigate your claim without binding them to pay you.
Insurance company adjusters can also send you a coverage declination. Thus, while dealing with insurance companies, coverage issues, and company adjusters, you may find yourself dealing with tricky situations. In such a case, it is a good idea to have an expert by your side who is on your payroll.
Are You Beginning to Doubt Your Capabilities?
If you think you have the experience and skills needed to handle your insurance claim and the insurance company adjuster, it is a good idea to keep everything in your hand. However, if you do not have ample time at hand or find yourself in a position where you fail to understand the nitty-gritty, hire a public
adjuster.
Do You Trust Your Insurance Company?
Are you happy with your insurance company? Do you find your insurance company adjuster fair and trustworthy? Can you implicitly trust your insurance company to fulfill your expectations? If the answers to these questions end in a yes, you don’t need a public adjuster. However, if the answer to any of the above questions is no, you must get someone to represent you.
The Decision to Hire a Public Adjuster Lies with You
Homeowners dealing with minor or major damages do not always have to hire a public adjuster. The need for a public adjuster arises when homeowners find themselves dealing with situations that they do not understand or companies and adjusters they do not trust. Hiring a public adjuster is optional, not mandatory, and the final decision always lies with the homeowners.