How do public adjusters get paid after assisting their clients?
As public insurance adjusters, we get asked all sorts of questions related to filing a claim, the length of the process, what to expect, the amount of the settlement, and many other inquiries. Perhaps the number one question we often get asked when discussing the final settlement amount is also the simplest: how do public adjusters get paid?
How Do Public Adjusters Get Paid from a Settlement?
When you first get in contact with a public adjuster, he or she will discuss the details of your situation, including what type of damage has occurred They will also infer whether or not you’ve already filed an insurance claim, etc. Before you sign any type of agreement, you’ll discuss how the adjusters’ fee will be paid. There are four different ways this can be done, depending on the adjuster and agency you work with: hourly rates, flat fees, retainers, and contingent fees. That last one, working on contingencies, is the best choice.
Why is Payment on a Contingency Basis the Best Option?
Working on a contingency basis is the best choice for everyone involved. When the amount that the public adjuster gets paid is determined by the claim settlement amount, you can be sure that he or she is always doing their best to maximize that amount. This creates a level of trust between the adjuster and claimant that you may not feel when dealing with an hourly or fee-based agreement.
How Do Public Adjusters Maximize Your Settlement?
The trick to maximizing your settlement is understand how the claim process works and using that process to your advantage. Here are some of the ways that an experienced public adjuster is able to ensure that you get the best settlement possible:
The Public Adjuster is on Your Side
Going through the process of filing an insurance claim can be very stressful. Doing it yourself can be difficult because you don’t know how the process works or what to expect. When you hire a public insurance adjuster to handle your claim, you’ll have someone by your side throughout the entire process. This makes everything a whole lot easier.
They Stay on the Ball
Insurance companies are very helpful in getting claims processed, but they’re also known to put things off and treat you more like a number than a person. Public adjusters are dedicated to helping their clients and always stay on the ball. If you’re ever concerned with how a claim is being handled, just give them a call, and they’ll look into it right away.
They are familiar with the agencies
You know the old saying that it’s “not what you know, but who you know?” In the case of a public insurance adjuster, both are important. Not only do they have the knowledge necessary for making and settling a claim, but they also do business with various insurance companies in their area. This personal familiarity can help speed the process along, so you receive your settlement a bit quicker.
They Push the Agency
Don’t let the fact that a public adjuster has a personal relationship with an insurance company make you think that they’ll go easy on an agent who’s dragging his or her feet. An adjuster’s primary job is to fight for you throughout the process. As needed, they’ll push the insurance agency along in ways that you may not be able or willing to do.
They Know the Process
Even if you’ve filed a homeowners insurance claim in the past, you probably don’t know much about the procedure. Public adjusters deal with this kind of thing on a daily basis and know all of the ins and outs. They know how to make certain steps go faster and what questions need to be answered along the way.
They Are Aware of Damages
At some point, a public insurance adjuster will need to assess the damage that’s been done to your property. They’re very aware of the different types of damage you may incur, including water damage, fire and smoke damage, hail damage, and wind damage and hurricane damage. They’ll be able to give you a good estimate of your expected settlement amount once they have all the details. Plus, they know what can and cannot be included in a claim.
For more information on how public adjusters are compensated, contact Property Protectors.
Property Protectors help ensure you get the settlement you deserve after your property has been damaged. We’re always fighting for you to help you get your property repaired. If you have any questions about why we’re the most trusted public adjuster in Florida or need help with a homeowners insurance claim, reach out to us at (800) 658-1943 today to schedule your free consultation.