What is a Public Adjuster?
A public adjuster is a professional in insurance cases with a state license that specializes in the management of every aspect of an insurance claim on behalf of the insured. Public insurance adjusters provide negotiation services or “adjustment” of insurance claims. They are a type of claims adjuster with an individual license and can be hired by the insured. They represent the general claims of “public” and “adjustment” to effect settlements.
Most people know insurance adjusters or claims adjusters as those who are responsible for the insurance company investigating, inspecting, evaluating and adjusting insurance claims, in order to determine the amount of compensation that the company Insurance is required to pay.
A public adjuster performs many of these same functions and is hired to support the insured, during the process of evaluating and negotiating a claim. A public insurance adjuster is someone hired to represent the financial interests of the person or entity that is insured by the policy. A public appraiser works for you, not for your insurance company. Public adjusters use their experience and experience in the insurance industry to ensure that a claim is handled properly and achieve a fair result, while at the same time working to maximize compensation successfully. All in an effort to help the needy to truly recover after a loss.
More Details About a Public Adjuster
In 45 states of the United States and the District of Colombia, regulate and require the license of the Public Insurance Adjusters. These 45 states and DC have created their own regulations and licensing requirements and have adopted a form of the Public Adjuster License Model Law by the National Association of Insurance Commissioners (NAIC). In this act, the NAIC defines a public appraiser as any person who, by some form of compensation and on behalf of the insured, acts or assists in the negotiation or settlement of claims covered by an insurance contract. They also define it as anyone who advertises for a job as a public adjuster, solicits business or represents themselves as a public adjuster. Or any person who, for some form of compensation works on behalf of another public appraiser, is responsible for adjusting the losses incurred and advising an insured or investigating first-hand claims of an insurance contract.
Public adjusters, abbreviated PAs, are also commonly known as private adjusters, public claims adjusters, private claims adjusters, public loss adjusters, private loss adjusters, and public insurance adjusters.
History & Experience of Public Insurance Adjuster
Many public adjusters previously worked for an insurance company. After years of working for an insurance company, they use their experience to move to the “other side” and represent the public, that is, owners of homes and businesses instead of insurance companies. These experienced public insurance adjusters know the tricks, tactics, and strategies used by insurance companies to reduce claims. Almost all good public appraisers not only have a state license but also have years of experience working in the highly complex insurance industry.
An insurance company has its own team of adjusters. These adjusters are responsible for analyzing your claim after an incident. These adjusters have a responsibility: to protect the bottom line of the insurance company. They work on behalf of the insurance company. The objective of the insurance company is to pay you the lowest amount you are legally obligated to pay. By hiring an experienced public appraiser, you are getting someone “on your side” who can fight against your insurance company and provide a professional experience to reach a fair settlement for your loss.
Types of Public Adjusters
There are three main types of insurance claim adjusters:
- Personnel adjusters: Personnel adjusters are hired by the insurance company and often work within the company itself.
- Independent Adjusters: Independent adjusters are independent contractors who are then hired by insurance companies to handle claims.
- Public Adjusters: are those who are hired by the insured and not by the insurance company.
- So, of all kinds of insurance claims adjusters, public adjusters are the only ones that have nothing to do with working on behalf of the insurance company. They are hired by the policyholder to review the claim and to ensure that they receive the correct amount of money from the insurance company to cover the damage or loss to their buildings or property from a disaster or accident.
The first step is to decide if you need a public insurance adjuster. If you decide to hire your own adjuster, your adjuster will thoroughly check your insurance policy and examine the damage caused to your property. The adjuster will then evaluate the situation to determine the costs necessary for repairs or replacements caused by the accident or disaster. At this point, your adjuster will enter the negotiation process with the insurance company to maximize the settlement offer of your claim.
Public adjusters come in all different levels of experience and expertise. It is important to hire someone who is an expert in the particular category to which your insurance claim belongs. There are public adjusters who specialize in flood and water damage, experienced public adjusters with fire and smoke damage, public adjusters for tornadoes, storm and wind damage, public adjusters experienced in claims for hail and roof damage. Some public insurance adjusters with extensive experience have extensive experience in many or all categories of disaster claims and losses. By hiring someone with extensive competence and experience in the particular field in which your claims are found, you will be more likely to get the best payment for your insurance claim.