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
Filed under: Uncategorized
