When you think about hiring a public adjuster company, it is necessary to know what a public adjuster company really is. A public adjuster company is an insurance business that provides advice or advocates insurance claims to policy holders in negotiation and appreciation of a particular claim of the claimant.
Mostly, insurance companies have their own attorneys or they make departments who represent the rights of claims of insured clients during the whole insurance claim process.
In any case, a public adjuster is beneficial to the insured when it is obvious that the claim will be paid by the insurer and the only problem is the proper identification and valuation of the client’s loss. Mainly they are responsible to appraise the damage, make an estimate, examine insurance policy to identify coverage, and have discussions with the insurance company’s claims department.
Claims are mostly entertained by public adjusters for handling and negotiating terms and conditions of the coverage between the insurance company and insured client.
For selecting a public adjuster company, it is very important for you to know some of the mentioned points explained below:
1. Licensed Public Adjuster
Make sure you hire a public adjuster company which bears a proper license. Verify some of the individual insurance loss assessor license for your country or state. In all states, it is not necessary that every company is license-based. However, if it is not license-based, then this company needs to pass an exam on its specialty to get its license. Inquire whether the company has its business license or not. If the company claims that they have a license, then check it with your local licensing authorities.
2. Interview Public Adjuster
Interview the individual(s) who will be handling your insurance claim. Ask the person whether he will be handling and negotiating terms or he/she is simply a sales representative who will hand off your claim.
3. Business Skills & Experience
Find out whether they have enough skills, business credentials, and experience to handle your matter or not. In addition, find out for how long they had been licensed as a Public Adjuster.
Ask the public adjuster for names and numbers of clients for whom the company has worked over last three years. Randomly call and check names of the client and ask their feedback about the company.
Try to hire a company whose office is nearby your residence. Here is a possibility that your work will be delivered with better service and it will take less time in completion of work if the office of the company is nearby. If the firm is situated out of the zone, then make terms clear on what you can expect from them over the long haul.
6. Make a right decision
Be clear on making a right decision before selecting a good public adjuster company. Try to gather all the necessary information that you require. Don’t rush in the selection process. Public adjuster will be part of your insurance claim process till the time of settlement of claims to the recovery of all the financial aids you are eligible to under the terms and conditions of your policy and the laws in your state.
The fees of a public adjuster company ranges from 5.0% – 15.0% of the amount the insurance company pays on your claim. This fee structure sometimes is negotiable or fixed depending on the state you are living in. Make sure you agree to pay a fee which is in accordance with the type and size of your loss.