Public Adjusters

Why & When

Insurance companies are not magnanimous entities  whose sole reason for existence is to help policyholders! They are in business to create a profit. They want happy customers that can count on them when disaster strikes, but they want to pay out as little as possible. This is one of the reasons policies are written in a legal-ease style crammed full of jargon and doublespeak. Confusion favors the Insurer.

Whenever a large claim is filed, as in the case of a tornado, insurance companies will often send several adjusters that will focus on different aspects of the claim. The policyholder is almost always stressed out and in a state of panic. Having so many people to deal with and so many forms and paperwork can quickly be overwhelming.

This is when a Public Adjuster may be the best solution. According to Consumer Reports, most claims handled by Public Adjusters result in substantially higher settlements. The Public Adjuster’s fee will come out of that settlement, so what the policyholder ends up with will reflect that fee. Some states do not have any caps on the fee a Public Adjuster can charge, which can lead to price gouging. Another consideration – contingency fees. An unscrupulous individual can charge as much as 40%!

The best time to call a Public Adjuster is when you can’t reach an agreement with you insurance company over. Most insurance companies would be willing to pay your desired amount rather than dealing with a Public Adjuster. So having that as an option gives you leverage! As soon as there appears to be an impasse, casually bring up using a Public Adjuster and you will likely see them become more accommodating.



To start a career as an Insurance Claims Adjuster, click REGISTER for  either the All Lines or Property & Casualty courses.