Restoration projects at home require expert advice from certified skillful professionals that know best about those projects. Part of a successful restoration project is to count with enough budgets. If you need to start a project at home that involves replacing roof, fixing pipes, or changing flooring because you have experienced some eventualities like floods, fire, water damage or any other natural event or domestic situation, money is undoubtedly required. When you already have an insurance policy, you can start a claim to fix damages at home.
American Loss Consultant as a company founded to advice you in any issue concerning restorations at home or business, knows that insurance claims are not as easy as they might seem. Insurance companies manage complicated procedures that are tough for inexperience people to cope with. So, if you are planning to start a claim, we strongly recommend you to hire a public adjuster to accompany you. In our archives, we count with plenty of people who are willing to help you during the process at insurance company.
Then, at the moment you hire a public adjuster, he is compromise to conduct some procedures that in time result in benefits for you. Public adjusters are experts in:
Examining carefully your insurance policies to determine the coverage suitable for a claim. Insurance terminology is not easy to get, but experts can handle it.
Making an inspection to your home, collect information and keep records of damages in the property, the contents as well as any additional expenses.
Fighting for business rights
In case restoration work must be done in a commercial property, public adjuster can evaluate losses caused by business interruption and extra expenses to make claims for business.
Valuing your damages
Your insurance company will provide you an adjuster to determine values for settling covered damages, but your public adjuster fight for you. The adjuster from the insurance company will always set a lower amount; remember that he/she does not work for you but for the insurance company.
Preparing the claim
Claims processes are similar to lawsuit in court: they require preparing documents, to update records and to support the claim on behalf of the insured.
Negotiate a fair settlement with the insurance company is crucial for you and public adjusters know that. Be confident that your claim is in good hands.
Re-opening a claim and negotiating more money. If you previously conducted a claim and result a discrepancy after the claim, public adjusters can re-open a claim and negotiate more money for you.
Generally, when you as a policyholder hire a public adjuster you are hiring someone who will document and expedite your claims, someone who will gain a more satisfactory claim recovery, more quickly, restoring the normal functioning of your home or business, taking away from you the stress of a legal process. Public adjusters must be able to even know when they are facing problems…some claims may be insubstantial and disputable and explain that to you as client.
Licensing as part of screening process
The actuation as a public adjuster demands a proper licensing. American Loss Consultant as a serious firm knows the statutory and/or regulatory scheme which licenses public adjusters. The National Association of Insurance Commissioners (NAIC) adopted the Public Adjuster licensing Model Act (MDL-228) in 2005. This model rules the qualifications and procedures for the licensing of public adjusters; states that public adjusters may only act or aid on the benefit of the insured in first-party claims.
American Loss Consultant verifies that the public adjusters that are in our archives hold a license in the state because according to the model, licenses are particular to each location. In some states, public adjusters that are not resident can obtain a license to act in that state.
A public adjuster is defined by the model as “any person who, for compensations or any other thing of value, acts on behalf of an insured”; public adjusters usually work with insurance property damages and business losses claims. It is not common that public adjusters handle health insurance claims but in some states like in Florida they are legally authorized to handle them.
American Loss Consultant requires every public adjuster pass the screening process of the company. But we always advice our clients to follow these suggestions at the moment you are hiring public adjusters:
Check references and qualifications.
Ask for recommendations from your friends, family and associates. Make sure the public adjuster is licensed in the state where your damages or losses occurred. Contact your state insurance department to check up his/her record.
Never hire a public adjuster who pressures you.
You are the client and public adjusters are there to help you; always read carefully your contract and be sure you understand all the clauses before you sign it.
Get information about fees.
Before hiring a public adjuster, consult your state’s insurance department because they may set the percentage that public adjusters are permitted to charge. Do not trust on door-to-door public adjusters who arrive after a catastrophe.
Public Adjusters Fees
The money you have to pay when hiring a public adjuster will be usually determined in terms of percentage of the total settlement. As a common non-said rule, lower percentages are asked by public adjusters when larger losses are claimed while higher percentages are asked in smaller claimed losses. But experience as well as skills also influence on the percentage you will pay to a public adjuster.
There are kind of “category” of public adjuster depending on the abilities he/she has to secure policy benefits. Those abilities make adjuster be considered basic to elite expert. Expert-rated public adjusters get a higher fee than standard-rated adjusters because with them you can be sure they will get the most. But do not trust in just the words of the adjuster if he/she says is “expert”. Expert adjusters are classified and registered as experts by the judicial system. Consult that information.
Some public adjusters prefer a method called “new money only” which means that the public adjuster assumes all the cost risk and expense, with no cost risk shared by the client. This is risky only for the public adjuster and of course, charges for this service are really high, kind of 40% to 50%.
It is important to clarify you that a public adjuster cannot get more money than you, as a policyholder can get; but public adjusters recover a better financial settlement benefit than the one you would get from the insurance company without the assistance of the public adjuster. Clients will always have a net financial improvement of benefits recovery after fees are paid.
At the end, communication is always important at the moment you hire a public adjuster. He/she is there to help you.
Call American Loss Consultant if you have had an eventuality and you need extra help for insurance claim. We will provide you a full list of licensed public adjusters. Call us 24/7. ALC, experts in advising.