Public Insurance Adjuster Pros and Cons – Is it Right for You?

What is Public Liability Insurance Policy?

There are numerous reasons why you might want to engage a public adjuster to manage your insurance claim. The primary reason to think about hiring a public adjuster would be to ensure that you’re getting the absolute most cash possible. However, as a savvy homeowner, it’s also a necessary requirement because of the inherent value of your property. The insurance offers the required financial protection should something disastrous or unforeseen happen to your house. A public adjuster’s role is to ensure that you get the maximum payout for your insurance policy.

You might wonder exactly how an adjuster works to help a homeowner make the most out of their insurance policy. The key is in the way in which they actually do their job. Adjusters collect information from each of their clients and then process this information according to the regulations laid down by each state’s Department of Insurance. Once these documents are processed, the adjuster will then give their opinion to the insurance company. Public adjusters must be licensed by their states’ Department of Insurance.

What does a public adjuster do when it comes to filing insurance claims? They will first assess the claim. After determining the validity of the claim, they will then provide an advice to the policyholder on the best course of action to handle their claim. In most cases, they will request that the settlement be settled out of court. However, should other options be presented to them, they will always recommend that the settlement be handled through the courts.

Now, you might be wondering just how public adjusters in Ontario benefit the insurance company. They benefit because of the sheer volume of work that they have to do. Each and every company has a different number of policyholders. It would take them months, if not years, to complete the necessary work for each claim that they have under their belt.

So, there is good news and bad news with this situation. The good news is that if you have an insurance claim that has to be filed against you or one of your homeowners insurance policyholders, you can rest assured that you will not be paying any legal fees out-of-pocket. This is due to the fact that most of these “hits” that these companies receive are as a result of the public reporting that they have filed. They will never charge the insured a thing! So, if you are wondering how a public adjuster Pros and cons helps your homeowners insurance policy or your business finances, you will be pleased to know that this is exactly how it works.

You will not be charged a fee until your adjusters have actually made a settlement. They will either give you a lump sum amount for your water damage or they will make you an offer that reflects the actual value of what you have lost or damaged. If they have fixed your case, then you will get a check from your insurance company shortly (usually within twenty-four hours) which will cover your deductible. If not, then your company will be responsible for paying the rest.

Public Adjusters work very quickly, sometimes days after the flood has been reported. However, they are not required to work for a certain amount of time. If they are not able to fix your case within the allotted time frame, then they are not obligated to do so and will not charge you anything at all. On the flip-side, some water damage adjusters are very busy and will need several weeks or even months to finish working on your case. Be sure to ask how long it will take your insurance company to settle your case before making any final decisions.

There are other benefits to hiring an adjuster, as well. Public adjusters often work on a contingency basis, which means you don’t have to pay them anything unless they win your case. As you can see, there is usually nothing to dislike about these professionals other than their quick turn-around time. If you are having problems with your home’s foundation, you should consider calling a professional contractor as soon as possible.

National Fire Adjustment Co.
1100 S Service Rd #222,
Stoney Creek, ON L8E 0C5