What is a Public Adjuster?
Public Adjusters are experts on property loss adjustment who are retained by policyholders to assist in preparing, filing and adjusting insurance claims. Employed exclusively by a policyholder who has sustained an insured loss, these professionals manage every detail of the claim, working closely with the insured to provide the most equitable and prompt settlement possible. At the onset of the loss a public adjuster inspects the loss site, analyzes the damages, assembles claim support data, reviews the insured’s coverage, determines current replacement costs and exclusively serves the client, not the insurance company.
A public adjuster is an insurance claims adjuster who advocates for the policyholder in evaluating and negotiating an insurance claim in conjunction with the insurance company’s adjuster.
There are three classes of insurance claims adjusters: staff adjusters (directly employed by an insurance company or self-insured entity), independent adjusters (independent contractors hired by the insurance company) and public adjusters (directly employed by the policyholder). “Company” or “independent” adjusters can only legally represent the rights of an insurance company.
• The public adjuster’s main responsibilities are to:
• Evaluate existing insurance policies to determine what coverage may be applicable to a claim
• Research, detail, and substantiate damage to buildings and contents and any additional expenses
• Evaluate business interruption losses and extra expense claims for businesses
• Determine values for settling covered damages
• Prepare, document and support the claim on behalf of the insured
• Negotiate a settlement with the insurance company on behalf of an insured with the insured’s consent.
In order for a Public Adjuster to legally represent an insured, they must be licensed within the state the loss occurred.
Why Do I need a Public Adjuster?
A Public Adjuster’s sole objective is to represent your best interests as a property or business owner. We have no allegiance toward your insurance carrier and look to maximize the financial return due to you as a result of the covered cause of loss.
While you can represent yourself during the claims process, a Public Adjuster is an expert in insurance policy language and loss preparation. More likely than not, we have handled numerous cases just like yours and can navigate the claim to ensure the maximum settlement you deserve. By allowing a Public Adjuster to handle your claim, this also frees you up to focus on returning your home or business to its pre-loss conditions.
When should I hire a Public Adjuster?
It is recommended that a policyholder hires a public adjuster at the onset of the loss. By doing so it allows the Public Adjuster to immediately document and expedite their claims, obtain a more satisfactory claim recovery, more quickly and completely restore their residence or business operations, and insulate themselves from the stress of engaging in an adversarial process with a large corporation.
What types of Losses do Public Adjuster’s handle?
Oland Property Loss Consultants handle many types of loss that include but are not limited to:
• Broken Pipes
• Hurricane Damage
• Wind Damages
• Roof Leaks
• Sink Holes
• Business Interruption
How do Public Adjusters get paid?
A public adjuster’s fee is an agreed upon percentage of your recovered loss settlement. There are no upfront costs and we only received payment when you receive money. Since a public adjuster’s fee is directly related to the size of your settlement, it’s in our best interest to ensure you achieve the highest settlement possible.
I just had a loss, What should I do?
Contact Oland Property Loss Consultants immediately. We have relationships with several outstanding emergency service companies that are available 24/7 to minimize and protect your property from further damage. We will meet you onsite as soon as possible to assess the damage and contact your carrier to file the claim.