Navigating the complexities of commercial property claims can be a daunting task for business owners and managers. Understanding the intricacies of your insurance policy, accurately assessing damages, and negotiating with insurance companies demands a level of expertise that goes beyond the day-to-day management of a business. This is where the role of a public adjuster becomes invaluable.
In this comprehensive guide, we'll explore how public adjusters can transform the claim process for commercial properties, offering insights into when to hire one, how to work with them for the best outcomes, and strategies to maximize your claim settlement.
What is a Public Adjuster?
A public adjuster is a licensed and trained specialist who adjusts and recovers your insurance claims for damage. A public adjuster works solely for you and does not work for the insurance company. Their purpose is to help get you the maximum claim payout you deserve.
Types of Commercial Claims That Might Require a Public Adjuster
Public adjusters can help with a variety of commercial property claims, including the below. If your commercial property has experienced damages caused by any of the below, contact a public adjuster today. The insurance claims process can be extremely complicated and time-consuming. A public adjuster can help ensure you get the maximum settlement you are owed for damages.
What Does a Public Adjuster Do For Commercial Property Claims?
A public adjuster does a few key things to help with your insurance claim process:
- Works solely for you, the policyholder
- Guides you through the entire claims process
- Always negotiate a fair and reasonable settlement for your claim
- Speaks with your insurance provider directly on your behalf
- Expedites your claim process
Policyholders often rely on public adjusters as independent insurance professionals to help them assess and maximize their insurance claims for business property losses. This is because insurance claims can be extremely complicated and confusing. It can also be difficult to understand the details of your insurance coverage. A public insurance adjuster is an expert in dealing with the insurance industry and the entire claims process and therefore, is able to help maximize your settlement amount.
How Public Adjusters Can Benefit Your Commercial Claims Process
Public adjusters can help with your commercial claims process in many ways, including the below:
- Potentially maximize your insurance claim payouts
- Receive help with the entire claims process
- Have someone advocating for you for a fair and just settlement
- Experience an expedited claims process so that you can move on with your life
- Receive a thorough assessment of damages
- Trust that you have received the benefits you were entitled to receiving
- Experience less stress during the claims process
What To Expect: Hiring a Public Adjuster for Your Commercial Property Claims
Once you hire a public adjuster to assist with your commercial property claim, they will do everything they can to negotiate a fair, final, and reasonable insurance settlement for you (the policyholder).
They will be there to guide you through the entire claims process, including helping to assess any damage to the building, providing licensed and unbiased vendors for any work that is needed, reviewing your insurance policy coverages, evaluating your compliance responsibilities, investigating the extent of loss and damages, evaluating repair/replacement costs or depreciation, assembling business equipment claims, evaluating whether any mold has developed as a result of damages, and assessing total loss claims
Most public adjusters will also prepare any documentation you might need for an advance payment request and assemble support data for a loss of income claim (if applicable).
Public insurance adjusters receive a small fee based on the settlement amount that you receive from your insurance policy payout. However, if you do not receive a settlement amount, the fee structure does not apply and you will not pay anything. At Excel Adjusters, we do not charge any upfront fees or hidden fees.
When Should I Consider Hiring a Public Adjuster For My Insurance Claim?
Whether you have experienced hurricane damage, roof damage, storm damage, fire damage, or many other types of property damage, working with a public adjuster can help. Here’s when to consider hiring public adjusters:
- You feel overwhelmed by the process
- Your commercial property damage was extensive
- You think the settlement amount is too low
- You are being ignored by your provider
- You need things done quickly
- You do not have the skills to navigate the claims process
- You are confused by the paperwork
- You have never filed a commercial claim before
- You are not familiar with insurance laws
It’s important to note that hiring an “insurance adjuster” or an “independent insurance professional” is not the same as a public adjuster. A public adjuster works for you. An insurance adjuster and independent adjuster are hired by your insurance company - this means they are your insurance company’s adjuster and are acting in the best interest of the insurance company.
Maximizing Your Commercial Claim Settlement with a Public Adjuster
Maximizing your claim settlement with a public adjuster involves leveraging their expertise to ensure a fair and comprehensive claim resolution. A key strategy is keeping thorough documentation of all damages and related expenses, which helps in substantiating your claim. This can include photographing damages, maintaining a detailed inventory list of damaged assets and their condition, saving repair receipts, noting when the damage occurred, gathering witness statements if applicable, and documenting all correspondence with insurers.
Additionally, engaging a public adjuster early in the process allows for professional assessment and inventory of damages, ensuring nothing is overlooked. Many commercial property owners wait too long to hire a public adjuster - the sooner you speak with one, the faster they can help get your claim settled and ensure you receive a fair settlement.
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. Whether you need help with your commerical insurance claim or homeowners insurance claim, our team is here to assist.
