Open Public Service VideoA Property claim is any damage that occurs to your home or business, and is covered under your insurance policy. For example: Hurricane damage, Fire or Smoke damage, Broken or Blocked plumbing lines, Burglary or Theft, Mold, Sinkholes, etc. When damage occurs to a home or business, the homeowner or business owner must call their insurance company or agent as soon as possible and report the claim. The Insurance Company will create a claim and dispatch their adjuster to the home or business.
What is an "Adjuster"?An "Adjuster" is a person that determines the amount of money you should receive for your property damage. There are three types of adjusters.
- Company Adjuster or Staff Adjuster: This adjuster works directly for the Insurance Company (like a State Farm adjuster). Needless to say, a company adjuster's loyalty lies with the insurance company, who pays his salary.
- Independent Adjuster: This adjuster usually works for several Insurance Companies. There is nothing "independent" about an independent adjuster. Independent insurance adjusters represent the insurance companies that pay them, and they ALWAYS look after the insurance company's best interests.
- Public Adjuster: A public adjuster works for the insured, not for the insurance company. The Public Adjuster can file your claim, work directly with your Insurance Company's adjuster, and ultimately see to it that you get every penny you are entitled for your damages. Although there is a fee associated with hiring a Public Adjuster, you usually get much more than the insurance company would offer, plus you won't have the hassle of dealing with the claim process. For their services, Public Adjusters receive a percentage of the money they collect on your behalf, In New York State the fees charged by public adjusters are regulated by the State Insurance Department
Why hire a Public Adjuster, won't my Insurance adjuster give me what I need?
Experience tells me this is unlikely. Insurance Company adjusters work for, report to, and are paid by, the insurance company. Insurance companies are businesses, and they look after their bottom line. We find that often times they opt to repair items, when replacement is needed. An average policyholder working alone with an insurance adjuster is like an average person trying a court case without a lawyer who knows every law. Policyholders need equal representation.
Never forget this: ALL insurance policies require you to prove your loss. Insurance policies are complex legal documents and you will probably have many questions and problems as to how the policy provisions can or will affect your recovery. As your public adjuster, with my knowledge of insurance policies and coverage, I believe that I am the person who is most qualified to help you maximize your recovery.
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If I hire a Public Adjuster, and I have to pay a percentage of my recovery, won't I then have less money for my claim?
This may be the biggest misconception about public adjusters. Recoveries vary, however public adjusters typically recover more than you'd be able to secure on your own. Since you'll typically get more money, plus you don't have to handle your claim at all, why wouldn't you ask a public adjuster to handle your claim? In fact, the recoveries I get for my clients are actually paid for by the insurance company since I'm able to recover far more than their initial offer.
Still not convinced, here's a recent example: A clients house was badly damaged by a fire. I thought it was what could referred to as a "standing total", meaning that while there were some walls remaining and the bedroom and the bathroom, the cost to repair or replace what was damaged would equal the policy limit, around $375,000. The insurance company adjuster appeared to agree with me when we visited the site but his initial estimate to repair (his offer to settle) was $290,000. After proving to him that his assumptions were incorrect, my client got the full policy limit. Even with deducting my fee (a percentage of the total recovery) my client received significantly more money than the initial settlement offer made by the insurance company. I have dozens of documented cases showing my recoveries.
Will I have to pay for your services if you are unable to collect money for me?
The fee I charge is a percentage of your recovery. The amount of the fee is negotiable as long as it doesn't violate the maximum percent set by law. Therefore, if there is no recovery, there is no fee. We only collect a fee if we are able to get you insurance company to write you a check for your damages.
My claim was denied, am I entitled to a second opinion?Yes! I have clients that were told their claim was denied. We simply re-open the loss, negotiate with your insurance company, and insist they pay you (if you have a valid claim).
At what point, in the claims process, should I hire a Public Adjusters?I would strongly recommend that you call before you call your claim into your insurance company or agent. Doing so ensures that you'll get the professional help you need immediately. However, you can enlist my services at any time (before you place your claim, during your claim negotiations, and even after your claim has been closed). Basically, it's never too late.