A Public Adjuster is a professional claims handler who advocates for the policyholder in appraising and negotiating a claimant’s insurance claim. Unlike company adjusters or independent adjusters who are employed by the insurance company, a public adjuster is hired by the claimant to assert their interests in claims against an insurance coverage policy.
Responsibilities
- Assessment of Damage: Public adjusters assess the damage to property to ensure all aspects are thoroughly evaluated.
- Claims Documentation: They document evidence of the damage and compile detailed claims information required for proper reimbursement.
- Negotiation: Public adjusters negotiate with insurance companies on behalf of the policyholder to push for a higher settlement.
- Claim Resolution: They ensure that the policyholder understands the typically complex process of the claims settlement.
Legal Aspects
Public adjusters are regulated by state laws that outline their permissible activities and guidelines they must follow. For instance, the National Association of Insurance Commissioners provides relevant statutes and regulations that oversee the conduct of public adjusters.
Why Hire a Public Adjuster?
Policyholders might opt to hire a public adjuster if the claims process is complex or if the decided compensation from the insurance company does not match the losses incurred. Public adjusters are especially useful in situations where the calculation of losses is not straightforward or when large claims are involved.
Public adjusters can be pivotal in helping policyholders receive fair treatment and full compensation pursuant to their insurance policies.
