The Public Adjusters is taking a leading role in the never ending battle of “deficient” scope and pricing practices by many property-casualty insurance companies.
In the 2004/2005 hurricane seasons the insurance companies have been taking a beating on natural disasters that occurred one after another in Florida and Gulf Coastal areas. To meet the needs of their policy holders and to settle claims fast, these companies had to engage the services of out-of-town contract adjusters, even if they had very little, and in some cases, no experience adjusting losses.
These adjusters, for the most part, bill on a per file basis. The more losses they see, the more they get paid. So, the object is to get in and get out as fast as possible.
What happens? We have discovered that 90% of the losses are evaluated at less than their fair value. Of these, 50% come in at 22% less; 25% come in at 35% less; and 15% are in excess of 50% less than their fair value.
The company’s adjuster will supply the insured with a detailed computerized breakdown of their loss. The report appears to be very detailed and complete. But this report, although comprehensive, if analyzed closely, can reveal many inconsistencies, mistakes, and missing items.
It can also reveal that the pricing is incorrect. Not only by the adjuster but by whomever supplied them with cost data for their computer system.
If you don’t know how to interpret the details of the report given to you by the adjuster, you may be settling your claim for an amount somewhat less than it’s true value.
If you need help in with get your claim paid.. If you cannot get all that you need to get home repaired… If you cannot get your adjuster to call you back !! If you are living in your home with no carpet, damaged tile and fans blowing 24/7… If you have questions about your closed or new claim.. PLEASE CALL 561 843 4040.. Equitable Public Adjusters can help you… We are not paid until you are !!!
We handle all of Palm Beach, Broward.. We have handled and resolved claims in Lake Worth, Delray Beach, Boca Raton, West Palm Beach, Palm Beach, Jupiter, Juno Beach, Rivera Beach, Royal Palm Beach…
Posted on July 22nd, 2009 by lenny
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AT Equitable Public Adjusters our consultants navigate your insurance claim and build the strongest possible foundation for your financial and insurance recovery. Our expertise and years of knowledge will help you get back on track in a much faster timeframe than going through a traditional insurance adjuster. No one knows your business better than you do and following a major loss you want someone on your side that will ensure you get paid the maximum return on your loss. A crucial foundation, however, is the financial component of your insurance claim, this is where we excel and provide you with the following:
- We evaluate your insurance policy to establish the best possible strategy for presenting your claim to the carrier; this is a key area that must be done right the first time and has no margin for error.
- We consider valuing, documenting and substantiating every detail on your submittal and forms;
- We ensure that the negotiation on your behalf with your insurance company will be done with integrity and strategically so your compensated for all of your losses
- keeping you informed every step of the way; and ultimately settling the claim for the maximum amount with infinitely less hassle is something you can count on
Posted on July 19th, 2009 by lenny
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There are three types of insurance adjusters, Staff, Independent and Public. Staff Adjusters are employed directly by insurance companies, Independent Adjusters works for a company outsourced by the insurance company (independent with respect to which insurance company they work for, but they do not work for the policyholder). Lastly Public Adjusters are hired by the policyholder (you), and exclusively represents only the policyholder and not the insurance company. A public adjuster legally represents the policyholder, and prepares, submits, and negotiates the claim directly with the insurance company on behalf of the policyholder in order to get the maximum settlement
Posted on July 8th, 2009 by lenny
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“For the most part, people like using (a public) adjuster because they like the idea that someone is working on their behalf vs. someone working on behalf of the company,” says P.J. Crowley, vice president of the Insurance Information Institute.
But the decision to hire your own adjuster is far from a slam dunk. Finding a competent public claims adjuster is a lot like finding a medical specialist during a health crisis: It takes some research at a time when chances are you need to move fast.
Because you will be paying the adjuster yourself, you don’t want to hire one unless it’s really necessary.
“If they’re good, it really makes a lot of sense,” says Chris Farrell, host of the nationally syndicated television show “Right on the Money!” and author of Right on the Money: Taking Control of Your Personal Finances. And if they’re bad at it, you’ve really created a nightmare for yourself.”
There are some horror stories. “Some public adjusters, to justify their fee, will exaggerate their claim,” says James Markham, senior vice president and general counsel for the American Institute for Chartered Property Casualty Underwriters and the Insurance Institute of America.
And some insurance company adjusters may bristle if you bring in your own expert, he says.
“Some company adjusters are instantly suspicious or even antagonistic whenever they have to deal with a public adjuster,” Markham says.
“Is the company out there within 12 hours, or has it been a week since the fire and no one’s come?” says Lambert, also vice president of Early, Cassidy & Schilling Inc., an independent insurance agency in Rockville, Md. “Most good companies are going to come out there pretty quick.”
Most well-known companies also are going to play fair when it comes to claims, he says. But, Lambert admits, in today’s economy when companies are hurting, “Some are going to play hardball.”
There are also a few other instances when it could be practical to hire a public adjuster:
- You’ve sustained a partial loss. Half the house burned down. Now you’ve got to document which of your possessions survived the fire, which burned and which are damaged beyond repair.
- You don’t have the time to follow up on your claim. Whether you’re a two-income couple with kids or a busy professional who travels frequently, filing a claim and following it through will take time, especially if you don’t have a record of your possessions and their value.
- You had loved ones injured or killed in the incident. If you’re spending your days at the hospital or mourning a family member, you may not even want to think about the claims process.
- The loss is business-related. Rather than assign an employee to handle the claim, some companies will outsource the job.
Even though you’ll want to move fast, you still have to do your homework before you hire a public adjuster.
“It’s delegating,” says Farrell. “You’re hiring their knowledge and expertise. It looks good on paper, but it’s easy to get ripped off.”
And while it should go without saying that you don’t hire the public adjuster who knocks on what’s left of your door after a fire or tornado, plenty of desperate folks have done just that and really regretted it.
5 ways to find a reputable adjuster
Poll the people you trust. Call your accountant, your lawyer and your neighbor. Ask if they’ve ever used a public claims adjuster or know anyone who has.
Contact the National Association of Public Insurance Adjusters. This trade organization, which represents 110 of the industry’s largest firms, maintains a searchable database of members who have at least two years of experience and uphold a professional code of conduct, according to David W. Barrack, the group’s executive director. In addition, the organization also offers a certification program. A Certified Professional Public Adjuster must have five years of experience and pass an exam, while a Senior Professional Public Adjuster must have at least 10 years of experience and pass a more rigorous test.
Interview the candidates. This should occur once you have a few names that look promising. Ask about rates, references and credentials. Contact their references and quiz former clients on the adjuster’s performance. Was the person effective? Available? Fast? Accurate? Did he or she deliver what was promised? If the adjuster claims any kind of certification, get the name of the accrediting body and call it.
Call your state insurance office. Many states license or regulate public claims adjusters. If yours does, make sure your prospect is in good standing with no unresolved complaints. It won’t hurt to call the Better Business Bureau while you’re at it.
Ask your insurance agent. Sound like a conflict of interest? Not really. You’re hiring an adjuster to represent you to the insurance company. So what is this person’s reputation within the industry?Shop for fees, competence and integrity
Generally speaking, the fee is around 10%, and the percentage may vary with the size of the claim, says Barrack. But beware, some public claims adjusters are charging up to 50%, according to Farrell.Even though shopping for price is important, “emphasize competence and integrity above fees,” says Markham. “The ugly truth is that exaggerated claims can cross the line to fraud. And the fact that you have a public adjuster doing it doesn’t absolve you.”Don’t let the adjuster steer you toward particular contractors, says William W. Baldwin, president of The Baldwin Co., a Charlotte-based public insurance adjusting firm.”There should be no ties to a construction business,” he says. “To me, there’s a conflict of interest.”
Wonder if your hired gun might damage your relationship with your insurance company, especially at renewal time? A more important question might be why it was necessary to hire a public adjuster in the first place.
“There has to be an element of trust and confidence here,” Crowley says. “If you don’t trust your insurance company, chances are at renewal time you should be shopping for someone you do trust.”
Posted on July 8th, 2009 by lenny
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I have worked for a number of years for an insurance company and understand now more then ever why people should hire a public insurance adjuster in Palm Beach Florida, Boca Raton Florida, Delray Beach FLorida, Lake Worth Florida, Juno Beach FLorida, Wellington Florida. A Public Adjuster will report, and drive your claim to a settlement that you will be happy with !! Without a public adjuster you are counting on your insurance companies adjuster to give you the amount they think you claim is worth. With a Public Adjuster on your side, he or she has (or should have) a number of years working for insurance compaines and understanding how they work.. They should look out for you.. and not their fee (which is a % of why they collect) and or the insurance company that you pay each month… Insurance companies will most likely assign an adjuster that will meet with you and tell you what you need to do.. I would be willing to bet what they tell you is best for them and their employer…! A Public Adjuster will meet with your adjuster, will handle all the calls, issues and what ever comes it.. A good Public Adjuster will walk you through each part of the claim and will bring each offer to you with a idea of what to do next…!
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Posted on November 30th, 2008 by lenny
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Say your house has just been badly damaged by an earthquake, fire, or other calamity. You can’t remember the last time you looked at your home insurance policy. Do you know what you’re entitled to?
Unfortunately, most people don’t know the details of their policies because they are chock full of legalese. However, in the case of home or property damage (not auto-related), consumers can turn to public claims adjusters to decipher their policies and get them a fair settlement with their insurance company. Public adjusters work for both individuals and businesses, but most cater to the individual policyholder.
You don’t need to hire an adjuster for minor damage, such as some smoke damage from a stove-top fire. However, you should hire an adjuster if your lifestyle is significantly disrupted. That is, bring in a public adjuster when you can’t handle finding new living arrangements, filing a large claim, and arranging for a survey of extensive damage to your property
Public claims adjusters know the insurance process inside and out, so they can minimize the hassle that comes with collecting documents and evidence, and then negotiating with the insurance company. The adjuster will file all your pertinent paperwork with the insurance company, arrange for the inspections of your damaged property if needed, and then haggle with the insurance company if it refuses to pay your full claim.
A good adjuster will also help control what you say to your insurance company. The adjuster will be forthright with your insurer, but won’t divulge any information that might damage your case. Remember, the adjuster is your employee and will pursue your interests only.
Adjusters must be licensed in most states. Certification comes from passing an exam and taking certification-update classes. The industry also tries to police itself, keeping an eye out for uncertified adjusters who might ruin the industry’s reputation.
Do I need an adjuster’s help?
Often it’s nearly impossible for consumers to know what to expect from an insurer in a homeowners claim situation, even after they read their policies. In addition, it’s difficult for an adjuster to come in when a claim is in the middle of being processed.
Insurers contend that their claims staffs are professionals who make the claims process as easy for their policyholders as possible, and they assert that it’s questionable whether a policyholder comes out ahead in a settlement when the adjuster’s fee is figured in.
Posted on September 23rd, 2008 by lenny
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Angry that your insurance company isn’t moving as fast with that claim check as you’d like? Or maybe the adjuster’s offer is less than you need to cover your losses? Perhaps you need your own adjuster.
Public adjusters assume all of the duties necessary to have your claim processed, including making an inventory of the loss and presenting your case to the insurance company. A good public adjuster has experience in the industry and will understand your contract and the company’s responsibilities right down to the fine print. In exchange, a public adjuster receives a percentage of your claim.
Posted on September 23rd, 2008 by lenny
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Home Insurance Claims - Tips For Filing And Winning
By Rhonda Strump
The process of filing home insurance claims can mean only one thing, you have suffered a loss of some sort. Now the work begins. Acquiring home insurance is easy, with the help of your insurance agent or broker. Obtaining a quote and policy activation can happen very quickly. However, things do not go quite so smoothly when you try to file a claim on your home insurance. It can be in some cases, be shocking at how your once accommodating agent can all of a sudden seem a bit jumpy upon hearing the word “claim” mentioned.
A best case scenario is, the claim form is completed and the insurance adjuster has viewed the damage and assessed the claim as appropriate, then it is just a matter of waiting for the check to arrive from the insurance company, which is usually a reasonably smooth procedure.
However, winning a home insurance claim is not always so straightforward. The insurance company will be looking to find ways to throw out your claim in some cases. The main reasons they will use to reject your claim are that you are not adequately covered, your time period for filing has expired or that what you are asking for exceeds the claimable amount as detailed on your policy.
For these reasons, it is essential that you understand exactly what your policy states and covers. The policy itself is a binding agreement between you and your insurance company. You should read all the fine print and know exactly what you are covered for and what deductibles and exclusions exist.
But who takes the time to read their insurance policy? Most people now they need insurance, but have no idea what it covers or what to do when they have a claim. Well, a public insurance adjuster in Palm beach, West Palm Beach, Juno Beach, Delray Beach, Boca Raton, North Palm Beach, Jupiter, Lake Worth would be able to guide you through the process. Unlike the adjusters that work for the company. Public Adjusters work for the home owner and will look out for you and ensure your insurance company affords coverage when it is demanded. Public Adjusters are only paid when you collect money from your insurance company.
Posted on September 2nd, 2008 by lenny
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Our Public Insurance Adjusters will get you the best insurance claims settlement possible. Our public adjusters are located throughout south Florida. We provide Florida public adjuster services throughout the entire state for which include; calling in your claim, meeting with your adjuster, taking and making all phone calls to your insurance company. We will negotiate (if need be FIGHT) to get your insurance company to pay !
Posted on August 4th, 2008 by admin
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With an experienced adjuster on your side, you can tell the insurance company what you deserve! Equitable Public Adjuster has experience with claims including; industrial, commercial, residential, fire, water, flood, storm, burglary and …
Public Adjuster | Restoration Specialist Equitablepublicadjusters.com or Cell - 561 843 4040
Posted on August 4th, 2008 by admin
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