Having been handling homeowner insurance claims for more than a decade, clients ask, “what are the pros and cons of using a public adjuster?”
The Pros – The Plusses:
In terms of the advantages, one of the most obvious reasons why you will benefit is that you will have a licensed, experienced, advocate on your side. Remember, public adjusters must undergo training and must demonstrate knowledge of assessing and estimating of damages. A public adjuster must have a working knowledge of the principles of construction. Think of a public adjuster as someone who will level the playing field, and at least make it a fair argument.
Furthermore, when a reputable public adjuster speaks on your behalf to argue your claim, the insurance company adjuster, who is equally experienced, must acknowledge that he is talking to a fellow adjuster. In other words, your public adjuster and the company adjusters are the same, but we are playing on opposite teams. In either case, there is a mutual understanding that we both have a job to do. And, as with any negotiation, there is some give in order to get something back. When you hire a reputable public adjusting firm like Florida Allstar Public Adjusting, Inc., you can be sure that there will be a settlement that is reached that you will be happy with.
The Cons – The Minuses:
On the flip side, there are some cons to using a public adjuster. What are the cons or disadvantages to using a public adjuster? Well, for one, occasionally the claim can take a little longer to settle. Why does this happen? Well, quite simply, if you have a public adjuster who is going to fight for you, he is not going to cave in and take a small, unfair settlement in order to get the claim to go away. I learned a long time ago that there is a simple formula when it comes to a successful settlement. And that is the longer you are willing to fight, the more you will end up getting. It’s a function of time, but don’t let this fact scare you.
From OPPAGA, the Office of Program Policy Analysis and Government Accountability, a research arm of the Florida Legislature. The research showed that catastrophic claims handled by public adjusters resulted in payments that were 747% higher for policyholders. For non-catastrophic claims filed during this period, policyholders received 574% more in claim settlements.
Thus, the initial payment from an insurer is often a fraction of what you are owed. You can read the complete report here: www.oppaga.state.fl.us/MonitorDocs/Reports/pdf/1006rpt.pdf
You may need to hold out a little longer, and you must be patient. If you can manage to do this, you have a much better chance of seeing the insurance company do what they are supposed to do, and pay the claim fairly.
Any person who is exercising due diligence must look at the pros and cons of using a public adjuster. Florida Allstar Public Adjusting, Inc., has been handling claims for almost a decade and a half. Before filing your claim with your insurance company, please call our office at 954.659.8333 .