What Questions Should I Ask A Public Adjuster?
As a consumer, it is important to be aware of what services public adjusters offer and whether these professionals are worth the money. Unfortunately, not all insurance companies have licensed professional public adjusters so you will need to make sure you know which ones do before you spend any money on their services.
Public adjusting is not an easy career path. It takes years of experience to become fully trained. Even then, people still get some results and some fail to find a satisfactory solution due to personal conflicts or lack of expertise.
As such, public adjusters must go through extensive training in order to be considered experts in the field. While most people can agree that hiring someone with a degree or certification is better than going without one, making sure your chosen consultant has enough education isn’t always the case.
With this article, we will discuss some questions to ask potential public auto insurance claim specialists about their qualifications. We will also look at some warning signs to watch out for when searching for a claims expert.
Will I receive a contract?
After you have received their business card, now is a good time to take them up on their offer of a service!
Most public adjusters will require you to sign a contract before they start working for you. This contract should include legal disclosures, payment terms, and your coverage limits. Make sure that you understand everything in the contract!
It is very important to read all of the contracts thoroughly before signing anywhere. Unfortunately, some insurance companies may try to sneak something in there that does not benefit you or the public adjuster.
Make sure that you are aware of what services each party will provide so you know who covers what.
How much will the public adjuster charge me?
The first thing that you should do is ask how much the public adjuster’s company charges for their services. This varies from agency to agency, as well as depending on what type of insurance they are representing you with.
Most agencies have an online service area where you can view rates, terms, and even compare quotes within your state. Make sure to check out both positive and negative reviews so you know if this agent represents good or bad companies!
By comparing prices across different agents, you get an idea of not only what each company costs, but also whether or not those costs are reasonable.
Will I get my insurance money all at once?
An important question to ask is if you will receive your payment in one large sum or if they will be paid off as it comes through the process. Some companies will pull up just enough funds for their billing system, then have to look for more money later! This can lengthen the process of getting your settlement check even longer than normal.
It’s best to go with professionals that do not require immediate full funding of the claim. By doing this, you save time waiting for them to gather the needed cash before sending you home happy!
Will I get my insurance money all at once? Is there an incentive to keep spending extra hours on the phone with me? If so, great! But make sure you are aware of any long term financial obligations such as student loans or credit cards before agreeing to work with them.
What happens if I don’t need to use the insurance money?
One of the first questions you should ask your Public Adjuster in Fort Myers is what happens if you never actually have to spend any of the insured funds. Most firms will keep part of the money they are paid by your insurer, or even take it as profit, until years later when they finally pay out the rest of the claim. This is not only expensive for you, but can also be considered fraudulent.
It is important to understand that most companies get paid its fees through an intermediary company called AIG (American International Group) – for every policy they write, AIG gets a commission. Many times, this commission can add up quickly!
By using these intermediaries, insurers gain access to more cash faster than direct contracts. This is why public adjusters are often paid in advance. Some states require proof of this upfront payment, which is usually done via testimonials or previous clients. If you are looking for a public adjuster in Fort Myers search for Intercoastal Public Adjusters
Will I get my check in the mail?
The next thing you should ask is if they will send you your payment. Most companies have an internal process for paying claims so they can quickly reimburse you.
Most times, their senior adjusters or management are the ones who handle payments. They may even pay you directly through their payroll service or via credit card.
In fact, many insurance companies now prefer this method of reimbursement because it cuts down on fraud. Since they know that you’ll be paid, there’s less chance of someone stealing from you.
What if I need to pay the public adjuster upfront?
The next thing you should check is whether or not they can be paid up front! This is usually only done for very serious claims where there are no denials of coverage from the insurance company, or when the policy limits have been reached.
In cases like these, an advance payment may be given so that the claim can be fully addressed and payments made accordingly. It is totally acceptable to ask about this, it’s just better to know what to expect ahead of time!
Be aware that some firms will require a partial pre-payment before work begins in order to ensure their financial stability, which could hurt your chances of getting your money back.
Will I need a lawyer?
Even though they are not required to, some public adjusters will offer legal advice to you! If this happens, be sure it is the right attorney for you and your insurance coverage.
Public adjusters that offer legal help do so because it is part of their certification. However, just like any other professional, there are some who over-sell their services and expertise.
It is very important to check out their references as well as get someone else’s opinion before hiring them to represent you.
We recommend doing your research online and speaking with friends and family about if they have ever heard of such and such an agency and/or individual.
What are my chances of winning?
The best way to evaluate the effectiveness of any product or service is by comparing it directly with another similar product or service, not just relying on testimonials or advertisements. Unfortunately, most people do not have access to such products so we can’t make that comparison for them.
That’s why you should always ask potential vendors how much they charge per policy. A lot of times, insurers will advertise a low price but what they don’t tell you is there additional fees for things like inspections or legal representation that they include in their cost.
In addition to costing more, these extra expenses could very well be unnecessary since many companies employ experienced professionals who know the insurance industry well.
If you are in the Fort Myers area of Florida and have recently been impacted by the devastation of Hurricane Ian, you may want to consider speaking with a Public Adjuster such as Intercoastal Public Adjusters of Fort Myers to help you understand your policy and what rights you have. It can be a very complicated process, but we hope this article has assuaged any concerns you have.
