If you have ever had the misfortune of experiencing a natural disaster and subsequent property loss, you are usually left with more questions than answers. You need help fast, and that help often comes in the form of an insurance claims adjuster.
But not all insurance claims adjusters are created equal. At Kandell Law, we are often asked how what we do is different from that of any other type of insurance claims adjuster. What sets us apart from company adjusters or independent adjusters?
We believe that knowledge is power, and that if you provide people with accurate information, they will make decisions in their best interest. That is why we have put together an essential side-by-side comparison of the differences between insurance claims adjusters, so the next time you need to file an insurance claim, you’ll be able to select the adjuster that is right for you.
Allegiance to the Insured
First and foremost, you should know who is working for you. Company adjusters and independent adjusters only operate in the interest of the insurance company. They will investigate the circumstances of the property damage to avoid insurance claim fraud and take steps to minimize their losses. Then they will typically require you to submit an examination under oath or a recorded statement. Because of the nature of their employment, they are biased towards the insurance company and try to capitalize on your misunderstanding of the intricacies of your insurance policy and protocol.
When you hire a public adjuster, however, you ensure your best chances for a successful claim. Public adjusters do not work for the insurance company and therefore have no conflict of interest when negotiating on your behalf with the insurance company. The main function of public adjusters is to make sure you receive fair and equitable compensation for your claim while expediting the process to return you to your pre-loss condition.
While company adjusters are full-time employees and independent adjusters are hired on a case-by-case basis, both cash their checks from the insurance company. They are thus motivated to minimize the insurance company’s losses to your disadvantage, and the service they provide reflects their leaning.
On the other hand, public adjusters receive payment on what is known as a “contingency basis,” meaning the insured is not paying an hourly rate for their services, nor must they pay a retainer or any money for the services to begin. Only once the claimant has secured the money they deserve do public adjusters get paid a small percentage of the claim. If you receive no settlement, the public adjuster receives no payment. This affordable type of representation ensures the public adjusters work both honestly and diligently in your corner.
Peace of Mind
After a significant property loss the last thing you want is to be caught in a wrestling match with the insurance company over the complicated details of your policy. The emotional toll brought on by such an event is enough to process on its own without being compounded by the company adjusters or independent adjusters mishandling the claim as they try to represent both sides of a financial transaction.
As attorneys, we are authorized to act as public adjusters, and you can rest assured that we have your best interests at heart. As professionals with extensive experience in the insurance industry, we research your policy, determine the values for settling damages and negotiate the greatest possible settlement on your behalf, so you can get started on getting back to where you were.