Disaster strikes, and you’re left at a crossroads. With a mangled house, destroyed belongings and no idea how to move forward, the last thing you want is to lose even more time and money. Most home damages are covered by insurance, but it can be a huge process to begin your home repairs, much less get the money you need for repairs. A disaster, whether it be a fire, flood, or earthquake, can severely damage your home, and the cost to rebuild may be extreme! For this reason, most have home insurance that will cover the bulk of costs when disasters like this happen.
In home damage situations, there are several moving parts: a public adjuster, a contractor, and your insurance agency. Unfortunately, many people will go on without a public adjuster, leaving them with much more to pay out of pocket and an unreliable repair timeline. Let’s examine what role each player has in the process to see how you can avoid the insurance mess.
Role of Your Insurance Company
The first point of contact in a property claims case is your insurance company. As soon as theft, damage or disaster happens to your property or home, file a claim with your insurance company. An insurance adjuster will investigate your claim and set your settlement price. Keep in mind that the company-appointed insurance adjuster is not the same as a public adjuster. This settlement price is the monetary value associated with the damage. It is meant to cover the entirety of the replacement or reconstruction cost after theft or disaster. However, oftentimes, insurance, in the name of saving themselves money, will lowball you. Those who are unfamiliar with the process may accept the claim at face value only to find out that the actual repair and replacement costs are thousands of dollars more than the settlement provided.
Role of a Public Adjuster
Public adjusters are your right-hand men in this scenario. While insurance companies work to save themselves the most money, public adjusters fight for a fair settlement. Public adjusters are state-licensed professionals who are well-versed in insurance laws and practices. They will carefully asses the damage and review your insurance coverage. They also take into account damages that may not always be visible but will end up costing the homeowner money in the long run. Your public adjuster will then send your detailed and revised claim information to your insurance as a counter. Insurance companies recognize public adjusters as authoritative and reputable sources and generally accept the claim. Homeowners are then able to get thousands more dollars than the original claim to cover the entirety of the repair or replacement.
Role of a Contractor
First and foremost, contractors CANNOT act as public adjusters. Sometimes, contractors will try to take advantage of homeowners who have just suffered loss and offer to help handle the insurance claim. Unless they are properly licensed, this is illegal. A contractor’s job is solely to repair your home or property. Many insurance companies provide you with a list of reputable contractors to choose from. You are also able to do your own research. Talk to your public adjuster to see if they have recommendations. Note that a public adjuster should not act as your contractor, as this is a conflict of interests.
Hiring a Public Insurance Adjuster
Property Claims Consultants have handled hundreds of insurance claims settlements and have the know-how to get you the settlement money you deserve. Contact us today for an easy and simple insurance claims process.
