Ten benefits of using a Florida Public Insurance Adjuster
1.Public Adjusters are licensed professionals. Most states require a public adjuster to pass an exam, maintain a bond, pass a criminal background check, maintain continuing education and are held to a high ethical standard.
2.Public Adjusters usually more then pay for themselves. According to the government study on Citizens Property Insurance Corporation of Florida
– Public Adjusters helped their client’s receive payments that were 747% higher.
According to the Office of Program Policy Analysis and Government
Accountability (OPPAGA) study conducted in January 2010.
“Policyholders with public adjuster representation typically received higher settlements than those without public adjusters. Policyholders that filed catastrophe claims in 2008 and 2009 generally received larger insurance settlements than policyholders that did not hire these persons. The typical payment to a policyholder represented by a public adjuster was $22,266 for claims filed in 2008 and 2009 related to the 2004 hurricanes (see Exhibit 6). In contrast, policyholders who did not use a public adjuster received typical payments of $18,659. The difference in payments was larger for claims related to 2005 hurricanes, with public adjuster claims resulting in payments that were 747% higher. However, as policyholders pay public adjuster fees as a percentage of their settlement, their net settlement would be lower than this amount.”
3.Only the Public Adjuster, attorney and policyholder can settle claims General contractors, water-fire restoration companies, accountants May be engaged in the unauthorized practice of public adjusting.
“If a contractor is acting as a public adjuster in any manner by negotiating or effecting the settlement of an insurance claim on behalf of an insured and they are performing any of these services for money, commission or anything of value without being licensed as a public adjuster (Section 626.854, Florida Statutes), they could be subject to arrest and may be charged with a third-degree felony as provided by Section 626.8738, Florida Statutes.”
4.Public Adjusters study & understand insurance policy language Public adjusters have experience reading the fine print. We must take hours of continuing education to maintain our licenses. Studying the changes and effects of your insurance
policy has on your insurance claim. The Florida Department of Financial Services regulates public adjuster fees. If the public adjuster does not gain you more money you pay nothing.
5.Public Adjusters represent the policy holder not the insurance company Independent and staff adjusters work for the insurance company to control your loss and determine what should and should not be covered in your insurance policy. Sometimes putting the interest of the insurance company ahead of the policy holder. You would not hire the other side’s attorney to represent you in a divorce or personal injury. Most people would
not hire the IRS to do your taxes? Why would you expect the insurance company adjuster to pay you every penny you are entitled too?P
6.Public Adjusters are experts in estimating damages Most general contractors are good at repairing damages, but not writing detailed unit cost estimates. This requires a specialized skill, expertise and knowledge.
7.Better public adjusters have past experience working for the insurance company
Knowing the inside and outs of the way the insurance company works. These public
adjusters use this knowledge for your advantage.
8.Better public adjusters are always getting advanced training In these poor economic times the insurance industry is cutting staff and reducing their training expenses, as well as putting higher demands on their adjusters. A public adjuster may well be better trained, with more experience, and have more time to devote to your loss.
9.Public Adjuster Save you time and aggravation Insurance claim settlements are a time consuming process, many professional people don’t have the time to devote to this full time process of documenting their loss. Getting your claim settled properly can be very stressful and aggravating it is often wiser to hand off the burden to a professional.
10.Public Adjusters get paid on a contingency fee or hourly basis The Florida Department of Financial Services regulates public adjuster fees in Florida. See The 2010 Florida Statues Chapter 626.854. b)
1.Ten percent of the amount of insurance claim payments by the insurer for claims based on events that are the subject of a declaration of a state of emergency by the Governor. This provision applies to claims made during the period of 1 year after the declaration of emergency.
2.Twenty percent of the amount of all other insurance claim payments.
Article Provided by Advocate Claim Service. Please visit the following url to contact them directly: http://www.requestmaster.com/Advocate-Claim-Service,-Inc..576.POMPANO-BEACH.Florida.html