When it comes to filing an insurance claim, many people may not realize that there are two types of adjusters who can help with the process: public adjusters and insurance company adjusters. While both play a role in assessing damages and determining the amount of compensation you may receive, there are key differences between the two that can impact your claim.
Insurance company adjusters work for the insurance company itself. They are responsible for investigating claims on behalf of the insurer and determining how much money should be paid out to policyholders. While they may seem like they have your best interests at heart, their primary goal is to protect the financial interests of the insurance company.
On the other hand, public adjusters work independently from insurance companies and represent policyholders in negotiations with insurers. They are hired by individuals or businesses to advocate on their behalf and ensure that they receive fair compensation for their losses. Public adjusters have a fiduciary duty to act in their clients’ best interests, rather than those of the insurance company.
One of the main advantages of hiring a public adjuster is that they have specialized knowledge and expertise in navigating complex insurance policies and claims processes. They can help policyholders understand their coverage options, document damages accurately, and negotiate with insurers for a higher settlement amount. In contrast, insurance company adjusters may not always have your best interests at heart and could potentially undervalue your claim.
Additionally, public adjusters typically have more time to dedicate to each individual claim compared to insurance company adjusters who may be handling multiple cases simultaneously. This allows them to thoroughly investigate damages, gather evidence, and build a strong case on behalf of their clients.
Another key difference between public adjusters and insurance company adjusters is how they are compensated. Insurance company adjusters are paid by the insurer itself, which could create a conflict of interest when it comes to settling claims. Public adjusters typically work on a contingency fee basis, meaning they only get paid if you receive a settlement from your insurer. This incentivizes them to fight for maximum compensation on your behalf.
In conclusion, when it comes to filing an insurance claim after experiencing property damage or loss, it’s important to consider whether hiring a public adjuster or relying solely on an insurance company adjuster is in your best interest. While both play important roles in assessing damages and negotiating settlements, public adjusters ultimately work for you – not the insurer – ensuring that you receive fair compensation for your losses.
