When property damage has been sustained whether by natural disaster, accidental, or otherwise, a mortgagor (borrower) will often elect to have a professional handle his/her claim by means of a public insurance adjuster. What typically happens is the public adjuster will then contact the mortgagee ( the lender of said secured loan) to notify them that they have been hired by the mortgagor to settle the insurance claim for the sake of the mortgagor.
Documented paperwork and photos will go far in further proving your claim for damage to property. Be sure to read your policy to thoroughly understand what you are and are not covered by in your policy. Certain aspects of damage may require a rider (additional clause or provision of extended coverage). An instance like a fire that spreads into the common areas is something you will need to know that you are covered for before you call your insurance company.
Unfortunately for some property owners, it’s after the fact that they find out the process for recovering damages and filing a claim can be quite tedious and time consuming. For some property owners, they have found hiring a “Property Claims Adjuster” to be quite valuable. Also known as a public adjuster, they are a rather uncommonly known type of loss specialist committed to helping policyholders get fully indemnified by their insurance policies. Many companies centralize claims adjustment in an insurance claims center, where the cost of repair is estimated and a check is issued immediately.
A public insurance adjuster can:
- Settle your claim for the greatest amount
- Serve as that necessary second opinion required by insurance claims
- Negotiate on your behalf with your insurance company
- Advise you of your options and keep you informed every step of the way
- Evaluate your policy to help present the strongest probable claim to your insurance company
- Measure and document losses to prove your losses (i.e., belongings, house, extra living /operating cost)
- Give you time to focus on recovering personally
The difference between a Public Adjuster also known as an independent Claims Adjuster and an Adjuster that works for the insurance company is quite distinct. An Adjuster hired by an insurance company works for, and is paid by, that insurance company. This type of Adjuster will have an apparent bias in favor of the insurance company that hired him/her . An independent Claims Adjuster works strictly for the policy owner and has only their best interests in mind.
As the reputation of insurance carriers not paying their policyholders fairly on property damage insurance claims grows, consumers are growing wiser and now turning directly to a Property Damage Adjuster before initiating the claims filing process to raise their chances of not only a proper settlement amount but also to improve likelihood of claim approval when damage has occurred.