Questions to Ask a Public Adjuster After a Business Property Loss

If you’re handling a business property damage claim, you’re probably wondering whether to get a public adjuster involved, and at what point to do so. Every claim is different, and public adjusters provide advice and advocacy throughout the process. Read on to learn the answers to some of the most frequent questions about hiring a public adjuster.

I’ve Received an Offer, but I Think It’s Too Low. Do I Still Need a Public Adjuster?

It’s quite common for business owners to attempt to handle their own property damage claims, particularly if it’s happened for the first time. However, by hiring a public adjuster, you’ll get the benefit of their knowledge and experience, and you’re more likely to get the settlement you need and deserve. Your public adjuster will:

• Valuate your losses
• Review policy documents to find every applicable type of coverage
• Pass the claim to your insurer
• Negotiate on your behalf
• Settle your claim quickly for the highest possible amount

Is It Necessary to Hire Legal Counsel?

Public adjusters are skilled in assessing the total value and scope of business interruption, property damage, and other economic losses. When claimants work with lawyers, it’s quite common for firms to turn to public adjusters for their skills and expertise. If the insurer disputes your settlement amount, a public adjuster can do everything necessary to protect your interests. Most business property damage claims can be settled without hiring an attorney, saving you time, frustration, and money.

Can a Contractor Help Me Settle My Claim?

While construction companies and contractors are an integral part of recovery after a severe loss, they can’t help you settle an insurance claim. They’re great at returning your property to its previous condition, but they lack the experience necessary to file an insurance claim. If the contractor tries to handle your claim, they may face felony charges for their unauthorized public adjusting. To be safe, hire a public adjuster who’s licensed to work on your behalf.

My Insurer Assigned an Adjuster to the Claim; Why Can’t I Count on Them?

There’s a big difference between public adjusters and those working for insurers. Public adjusters work on policyholders’ behalf to settle claims for the highest possible amount, while insurance company adjusters work to minimize payouts. When your insurer assigns an adjuster to your claim, that person will look out for the company’s interests, not yours.

My Claim Was Settled and I Was Paid, but I’m Still Having Problems. Can I Still Hire a Public Adjuster?

In many cases, supplemental damage claims may be filed for things like hidden damage. By hiring a public adjuster early on, you’ll find it easier to identify problem areas and modify your claim accordingly. As long as you haven’t signed a release, it’s not too late to hire a public adjuster.

Closing Thoughts

As an insurance policyholder, it’s your job to prove to your insurer that you’re owed money for your losses. When you work with a public adjuster, you’ll have a skilled professional protecting your rights and interests at every point in the claims process.