Accidents and disasters can have a tremendous impact on people’s lives and businesses. These devastating effects include loss of income and a crushing blow to your asset. Ideally, your insurance should be able to cover the losses and help you bounce back after a catastrophic incident.
However, after an assessment made by the insurance company’s adjuster, there are instances that you may not be satisfied with the result. Hence, the need for remedies in order to negotiate a favorable settlement with the insurance company.
The Insurance Information Institute, a trusted resource in the insurance industry, listed below some steps in resolving an insurance claim if you are not happy with the decision:
Contact the head of the insurance claims division or the consumer complaint department if they have one
Be ready with the documents and your letter stating why you are not satisfied with the claim
Review your insurance policy
Let your state insurance department know about your complaint
Get an arbitrator who can decide if the claim you are given is fair
Seek legal advice from an attorney who specializes in insurance
Getting help from a public adjuster
Different types of adjusters may assess an insurance claim. These may be the “staff” adjusters who are employed directly by the insurance company, the “independent adjusters” who are commissioned by the insurer on a contractual basis and the public adjusters who are adjusters hired by the policy owner.
For a policy owner who is disputing an insurance claim, a public adjuster can be a great help in negotiating with the insurance company on the policy owner’s behalf. Although these tasks can be done by the policy owner themselves, a public adjuster has the expertise and the time to deal with difficulties in insurance claims.
Although your insurance company has provided you an adjuster to assess the damage, keep in mind that they are still working for the insurer and not you.
As you choose to hire a public adjuster to take care of your insurance claim, you may need to do a bit of research to find out if your prospective adjuster would be a perfect fit.
Here are 12 critical questions you can ask to guide you on your decision in hiring a public adjuster:
Do I need really need a public adjuster for my insurance claim?
Deciding if you really need a public adjuster is all up to you. Filing an insurance claim can be done by yourself, however, if a dispute arises, a public adjuster may have sufficient knowledge and expertise to negotiate with the insurance company for you.
How will a public adjuster help me?
Unlike the “staff” and “independent” adjusters, public adjusters will work with you to get the most out of your insurance claim. The scope of a public adjuster’s job is to assist you all the way from preparing your paperwork to communicating with the insurance company.
Is it worth getting a public adjuster?
Weighing the pros and cons of getting the services of a public adjuster, you may find that hiring an insurance claim specialist has its own benefits. One of the advantages is having an expert on your side to get a fair settlement on your claim.
What paperwork would the adjuster need to work on the claim?
It is important to have all the paperwork ready to have a smooth processing of your insurance claim. Your public adjuster should have all the necessary documents to assist you with your insurance claims such as a copy of your insurance policy.
How long have they been in this business?
Public adjusting requires a lot of expertise in dealing with insurance claims. Having several years in this business may give you peace of mind, knowing that your insurance claim is being handled by a company that has built a good reputation over time.
Is the public adjuster licensed to practice in your state?
The majority of the states in the US require public adjusters to be licensed. Each state has its own laws governing the practice of public adjusting, therefore, it is your responsibility to find out if your public adjuster is legitimate to help you with your claim.
Does the adjuster have experience in working with similar cases?
Every case of insurance claims may be distinct in nature. Finding an adjuster who has already handled insurance claim disputes similar to yours would be a big plus.
Would the adjuster be able to provide references?
Asking for references is a great way to determine your prospective adjuster’s credibility. Learning about the public adjuster’s background through another person’s account can make you more confident that you are hiring a professional.
Do they have other claims currently handled?
The job of a public adjuster should be in your best interest and, with the number of tasks that they need to undertake to resolve your insurance claim, you may want to find out if they are currently handling other clients as well. This can help you determine if your adjuster can efficiently work with you despite their workload.
Will they be responsible for communicating with the insurance company?
Some policy owners prefer talking to the insurance company themselves regardless if they have a public adjuster. Knowing who will communicate with the insurer should be clarified from the start
How do they address business interruption claims?
Business interruption claims apply to policies of business entities where the insurance also covers the loss of income during its recovery stage. The public adjuster needs to know exactly how to handle such cases and has a better understanding of how this type of claim works.
Where do I search for a credible public adjuster?
Your local Association of Public Insurance Adjusters is usually your best source of information when searching for a public adjuster. These organizations oversee the regulation of public adjusters within the local area and are governed by their code of conduct.
