When disaster strikes and you need to file an insurance claim, it can be confusing to understand the roles of the various adjusters involved. Many policyholders are unaware there are different types of adjusters, each with their own priorities and responsibilities. Knowing the key differences between a public adjuster and an insurance adjuster can help you make informed decisions and ensure that your interests are protected during the claims process. This article will clarify these roles and explain how each type of adjuster can impact your claim.
What is a Public Adjuster?
A public adjuster is a licensed professional who works exclusively for you the policyholder, not the insurance company. Their goal is to advocate for your interests, ensuring you receive the maximum payout possible for your claim. Licensed public adjusters are highly experienced in handling a variety of property damage claims (including residential and commercial claims). They are paid a percentage of the claim settlement, aligning their interests with those of the policyholder.
What is an Insurance Adjuster?
An insurance adjuster, often referred to as a company adjuster or staff adjuster, works for the insurance company. Their primary responsibility is to assess property damage, investigate claims, and determine the payout amount that the insurance company will offer. They are typically paid by the insurance provider and represent the insurance provider's interests.
Key Differences Between Public Adjusters and Insurance Adjusters
Representation
- Public Adjuster: Represents the policyholder's interests, working to secure the best possible settlement.
- Insurance Adjuster: Represents the insurance company's interests, typically with the goal being to minimize the payout.
Role in the Claims Process
- Public Adjuster: Manages the entire claims process for you, the policyholder, from documentation and assessment to negotiation and final settlement.
- Insurance Adjuster: Evaluates the damage, investigates the claim, and makes a payout recommendation to the insurance company.
Payment Structure
- Public Adjuster: Paid a percentage of the claim's payout, incentivizing them to maximize the settlement amount.
- Insurance Adjuster: Paid by the insurance company, with no direct financial incentive to maximize the policyholder's payout.
Expertise and Advocacy
- Public Adjuster: Provides expert guidance and advocacy for the policyholder, ensuring all damages are thoroughly documented and included in the claim.
- Insurance Adjuster: Works to protect the financial interests of the insurance company, which might sometimes result in lower payouts to policyholders.
Independent Adjusters: A Third Category
In addition to an insurance adjuster, there is also an independent adjuster. The name however is extremely deceiving, as these individuals are not independent at all. They are third-party professionals hired by insurance companies to assess claims. While they are not direct employees of the insurance company, they still represent the insurer's interests. Their role is very similar to that of insurance adjusters/staff adjusters, except that they work on a contract basis. They are still typically paid by the insurance company.
Benefits of Hiring a Licensed Public Adjuster
There are many benefits to hiring a licensed public adjuster, including:
Maximizing Your Claim Settlement
Public adjusters work diligently to ensure you receive the maximum payout for your claim. They conduct thorough assessments, document all damages, and present a detailed claim to the insurance company, leveraging their expertise to secure a fair settlement.
Expert Guidance Through the Claims Process
The insurance claim process can be complex and overwhelming. Public adjusters provide expert guidance, helping you navigate the intricacies of your insurance policy and the claims process. This support ensures that all necessary documentation is completed correctly and submitted on time.
Advocacy and Support
Having a public adjuster on your side means having an advocate who is committed to your best interests. They negotiate with the insurance company on your behalf, striving to achieve a settlement that accurately reflects the extent of your losses.
Saving Time and Reducing Stress
Managing an insurance claim can be time-consuming and stressful, especially when dealing with significant damage or complex claims. Public adjusters handle all aspects of the claims process, enabling you to focus on recovery and restoration.
When to Consider Hiring a Public Adjuster
Consider hiring a public adjuster if:
- Your claim involves significant property damage
- You feel overwhelmed by the claims process and need expert guidance
- The insurance company offers a settlement that seems too low
- Your claim is denied or underpaid
- You want to ensure all damages are thoroughly assessed and documented
Understanding the key differences between public adjusters and insurance adjusters is essential for navigating the complex world of insurance claims. While insurance adjusters represent the interests of the insurance company, public adjusters advocate for the policyholder's interests, working to secure the maximum payout. If you're dealing with a challenging insurance claim, consider reaching out to an experienced public adjuster to help you achieve the best possible outcome.
Excel Adjusters: The Best Public Adjusters in Southern California
At Excel Adjusters, we work for you. We specialize in residential and commercial property loss for water, fire, wildfire, earthquake, flood, and theft. To this day, we have handled over 2,000 damaged property claims. Our highly trained team of professionals identifies, quantifies, and establishes the full extent of your loss with your insurance company. Our experts relieve you of the intricacies and complex procedures that come with handling claims in English, Korean, Chinese, and Vietnamese throughout the entire process.
