The Independent Adjuster vs. The Public Adjuster – Knowing the Difference
When you’re embarking upon an insurance claims process, you’ll find yourself overwhelmed with duties. Maybe it’s water, fire, mold damage, or the impending damage from a hurricane. Whatever the case may be, navigating through this process can muddy your brain and you may not know the difference between an independent and public adjuster knocking on your door. If so, it’s important that you understand the complexities of what you are getting yourself into.
Before we dissect the differences, you must first understand what an adjuster does. These are the gatekeepers between you and your settlement. When your property, be it your home or place of business, is damaged due to forces of nature or accidents, you need to estimate the cost of repairs and the value of material goods that were damaged.
In this case, one may hire a contractor to provide estimates, but you are dependable on an outside party to give you information, someone who may be charging you every moment for it. Sometimes, if the claim is too high, the insurance company will request that an insurance adjuster inspect the damage to write up their own estimate.
The independent adjuster will estimate without charging you a penny, but don’t be fooled. Nobody work for free. The insurance company is the one that pays for them, to make sure that the claims are in a realistic place and that they aren’t overpaying for damages.
These indie adjusters follow their code of ethics and won’t go above and beyond to deny a reasonable claim and they may even perform duties that in a way, indirectly cost you money. If they are unable to identify the brand of kitchen appliances you had, they may claim it as cheap replacements. The average civilian won’t even notice this.
A public adjuster doesn’t work for the insurance company – they work for you! They have your interest in mind and a win for them, is a win for you. They have their eye on the large settlement prize. In a way, they are your lawyer and act as the liaison to the insurance company. They’ll make sure you have checked all the boxes. Because they are getting paid a percentage from your claim, of course they will be on your team.
If the insurance adjuster has sent their own adjuster, this would be the perfect opportunity to hire your own. It’s important to note that Florida law allows you five years to re-open an insurance claim. If you think that you have been underpaid from your last claim, now would be the time to call up a public adjuster to aid you.