• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Stumble Forward

Stumble Forward

Avoid Life's Financial Pitfalls

  • Blog
  • About
  • Contact
  • Resources

Public Insurance Adjusters: 7 Commonly Asked Questions Answered

December 11, 2022 by Christopher

Image by Olya Adamovich from Pixabay

When you take the sensible precaution of arranging insurance to protect your assets or possessions you have a reasonable expectation that your insurer will cover that loss when you make a claim.

Unfortunately, many insurance companies will attempt to minimize the payout and even try to refuse the claim if they can find a reason within their terms and conditions that allow them to avoid a payout.

That is why it makes sense to use public insurance adjusters, who will fight on your behalf to get the best possible financial outcome.

Here are some of the typical questions asked when using public insurance adjusters.

What does a public insurance adjuster do?

They are a third-party insurance representative who acts on your behalf, the insured person.

A public insurance adjuster usually takes payment for their services in the form of a percentage of the winning claim they achieve on your behalf.

What is the difference compared to an independent insurance adjuster?

The fundamental difference between a public insurance adjuster and an independent insurance adjuster is that the latter works for the insurance company, not for you.

Both work on a similar basis in terms of acting as a third party who has been asked to analyze an insurance claim.

Can an insurance adjuster fulfill both roles?

It is feasible for a person to be licensed as a public and independent insurance adjuster.

However, for obvious conflict of interest reasons they can be both of these things when assessing each individual claim.

They either act for you or the insurance company, depending on who has instructed them.

In what way can a public insurance adjuster help you?

Their role is to prepare a claim properly for you so that you can achieve the best settlement possible when you submit your request to your insurer.

They also help negotiate a settlement on your behalf with the insurance company. This often helps as they understand all the rules and terms and conditions applicable.

Without using a public insurance adjuster you may not get everything you are entitled to if you pursue a claim on your own.

Can they get you more money?

Ultimately, a public insurance adjuster cannot get you more than you are entitled to under the terms of your insurance policy.

However, they can often help you get a higher settlement of what is permitted within the terms of the policy. This is because they know how to submit the most detailed and valid claim so that you get the chance of a higher payout.

What does it cost?

A public insurance adjuster charges a percentage fee for your settlement. This is typically around 20% but can vary between different providers.

Can fees vary?

The percentage fee will usually be lower when a claim is made as a result of a state of emergency being declared.

If you are unfortunate enough to be impacted by a natural disaster, like a hurricane, the fee is usually lowered to about 10% in that scenario.

Using a public insurance adjuster to help you file and pursue an insurance claim could be a smart move. They are very adept at achieving a higher settlement figure than you may have got if you claimed without their assistance.

Related

Filed Under: Insurance

About Christopher

Chris is a personal finance blogger with Stumble Forward helping people avoid life's financial mistakes and live a higher quality financial life.

Primary Sidebar

Get To Know Me

Hi, my name is Chris! I’m a personal finance and small business nerd.  Check out my blog where I share all of my favorite tips about saving money to running a small business.

As Seen On…

Top Articles

Categories

  • Business Opportunities
  • Business Tips
  • Careers
  • Consumer Advice
  • Credit
  • Credit Cards
  • Debt Managment
  • Education
  • Financial Independence
  • Food & Cooking
  • Health & Fitness
  • How To Guides
  • Identity Theft
  • Industrial
  • Insurance
  • Investing
  • Law
  • Lifestyle
  • Money Managment
  • Mortgages & Loans
  • Online Business
  • Pets
  • Product Reviews
  • Real Estate
  • Saving Money
  • Scams
  • Tech
  • Travel
  • Uncategorized

Related Blogs

Side Hustle Academy

Wallet Impact

Course Lifestyle

Welders Lab

Footer

Brilliantly

SAFE!

stumbleforward.com

Content & Links

Verified by Sur.ly

2022
  • Blog
  • About
  • Contact
  • Resources

Legal Stuff – Yep We Got That Too

Privacy Policy
Disclaimer for Stumble Forward
FTC Disclosure

Copyright © 2023 · Magazine Pro on Genesis Framework · WordPress · Log in