Most property owners do not know the many details of what their insurance policy covers. When a disaster happens, this could put you in a precarious situation and cost you. The majority of homeowners usually only know what their policy covers after experiencing sizable damage. By the time they have suffered a loss, they are already dealing with the stress of the aftermath. It gets even more overwhelming when they have to handle the details of property loss claims.
The Advantages of Hiring a Public Adjuster For Property Loss Claims
A public adjuster is an expert who helps the policyholder with the insurance claim process and aids them in getting the most out of their settlement. Some of a public adjuster’s duties include: looking over the insurance policy, assessing damages and the cost of rebuilding, and negotiating a successful insurance claim.
A public adjuster and an insurance company’s adjuster are similar. They both evaluate and document the damages that form the basis of the settlement, but with different goals in mind. The public adjuster is helping the homeowner receive the most for their property claim. The insurance agency’s adjuster wants to make sure the company pays the least amount possible.
A professional public adjusting company has the necessary tools and experience to guide the claim in a way that is most beneficial for their client.
Time and time again, we see homeowners put at a disadvantage because of their lack of knowledge of the insurance claim process. Below are three examples of issues that may come up during this process you may not be aware of:
Quick Settlement Offers
After having suffered damage, your insurance company may be in a hurry to write you a check immediately. At first, this may seem great, until you find out it barely covers the cost of restoring your property and belongings. First offer settlements are often much less than you need, and accepting them may mean you have to pay out of pocket for the majority of your repairs. If you agree to take a final settlement or sign a release on your insurance claim, there isn’t much you can do later to reconcile it.
The Cost of “Preferred Service Providers”
Insurance carriers have contracts with certain restoration companies to offer services for insurance claims. They will often recommend that you hire one of these businesses to clean, repair, and rebuild your property. Since the contractor has already been assessed by your insurer, it may seem like a good idea to use them. However, it could become very expensive for you.
These recommended contractors will usually offer to be an “adjuster” for you and handle the claims process on your behalf. While they are negotiating certain costs, they are looking out for the insurance company’s interest, not yours.
Keep in mind that your insurance company is required, by law, to restore your property back to its pre-loss conditions. You are entitled to the labor and materials that will achieve that.
The Slow Process of Filing a Claim
As we’ve mentioned before, the process of filing an insurance claim is laborious and time-consuming. There may be ashes to sort through, old receipts to search for, and messes to clean up. You may feel like coming to a quick settlement even though it means receiving only a portion of the cost of damages. It might seem worth it to you so that you don’t have to deal with the tiresome process.
This is why hiring a public adjuster will be valuable to you, financially and emotionally. It is their job to ease the burden you are facing in this crisis, to guide you through the process and help you get the most from your insurance claim. Contact Aftermath Adjusters & Consulting LLC today so our public adjusters can help give you a fair settlement and some peace of mind.