When you take out an insurance policy, you’re trying to minimize risks and provide financial security. Yet many homeowners learn the hard way that their insurance provider isn’t really on their side. As a business, insurance companies want to maximize profits. By limiting payouts for claims, an insurance company can reduce costs.

Fortunately, when filing an insurance claim, you can hire an advocate who will champion your interests. A public claims adjuster will work with you to evaluate the damage to your home, business, vehicle, or other property. They can help you uncover the true costs of the damage, and then, they can negotiate with your insurer to make sure that you’re fully compensated.

Not sure how you should go about hiring a public claims adjuster? We’ve got some tips.

Make Sure the Public Claims Adjuster Works on Contingency

If you’ve recently been robbed or your property was damaged by a storm, you may be in dire financial straits. Hiring a public claims adjuster might seem like another financial burden, and possibly one you can’t afford. However, many public claims adjusters work on contingency.

What does contingency mean? It means they will only be paid when you’re paid. Typically, this means charging a percentage-based fee based on your settlement. Crucially, public adjusters will work to maximize payments, thus ensuring that their clients get what they are owed.

Ask About What Properties They Handle

A car is very different from a plane and an office building is different from a home. If your property has been damaged, you’ll want to find a public claims adjuster who has experience with your specific property. As with any vocation, experience and skills go a long way.

If a claim adjuster has experience with similar properties, they’ll be in a better position to fully evaluate your case. This, in turn, could help them secure the largest possible settlement for your property. Of course, some adjusters can handle many different types of properties if they have enough skill and experience.

MAXOUT offers a roster of public adjusters that can handle essentially any property. We’ll send the experts best positioned to deal with your issue.

Ask About Experience With Similar Events

Beyond property, you’ll also want to work with a public claims adjuster who has experience with whatever it is that damaged your property. Evaluating damage caused by a flood is fairly different from evaluating damage caused by high winds. Likewise, evaluating damage from human-caused events, like arson or burglary, is much different from evaluating damage caused by natural disasters, like hurricanes.

It’s also smart to look for a public claims adjuster with experience working in your geographical area. The weather in Florida is much different from the weather in New York, and the crimes common in New Jersey may not be the same as those common in Connecticut.

Do They Have the Bandwidth to Handle Your Case?

Finding a public claims adjuster who has the time and resources necessary to properly evaluate your claim is crucial. You’ll also want to work with someone who can negotiate on your behalf even if the insurance company is dragging its feet. Feel free to ask the claims adjuster about their workload.

Bandwidth can be an especially important consideration if a large, widespread natural disaster, like a hurricane, has struck your area. Quite likely, many property owners will be looking to hire a public claims adjuster. It’s smart to act quickly in these circumstances so you can lock up the best insurance claims adjusters, like those found at MAXOUT.

Let’s take a look at the insurance claim process so you can better understand how much of a hassle it is, and why public adjusters add so much value.

Here’s How Filing an Insurance Claim Works

Filing an insurance claim is the process of formally requesting compensation from your insurance company for a covered loss or event. The steps to file an insurance claim can vary depending on the type of insurance and the specific policy you have, but generally, the process involves the following steps:

Contact your insurance company

As soon as possible after the incident, contact your insurance provider to report the loss or damage. This can often be done online, over the phone, or through a mobile app. Be prepared to provide your policy number and details of the incident.

It’s smart to contact a public adjuster right after you contact insurance. Getting the right documentation and evidence is crucial for maximizing your claim. A public adjuster will know what you need to gather/document and they can start to build a strong case right away.

Gather documentation

Collect any necessary documentation related to the claim, such as photos, receipts, invoices, or police reports. This will help support your claim and provide evidence of the loss or damage. A public adjuster can make sure you get all the necessary documentation.

Complete the Claim Form

Your insurance company will provide a claim form for you to complete. You’ll be given either an electronic or paper form. You should be as accurate and detailed as possible when filling out the form, and include all the supporting documentation you have gathered.

Filling out this form takes quite a bit of work. If you work with a claims adjuster, they can help you complete this work, thus avoiding pitfalls and hassles later on.

An Insurance Adjuster is Assigned

After submitting your claim, your insurance company will assign a claims adjuster to review your claim. To be clear, this claims adjuster is not a public adjuster. A public adjuster advocates on behalf of policyholders. This claim adjuster, on the other hand, works for the insurance company.

The claims adjuster will investigate the details of the incident and assess the extent of the loss or damage. They may contact you for additional information, to inspect the property or vehicle involved, or request more documentation. If you’re working with a public adjuster, he or she may be able to work with the claims adjuster directly.

Claim Evaluation

The adjuster will determine if the loss or damage is covered under your policy and calculate the amount of compensation you are entitled to, based on your policy limits and deductibles. This evaluation may also consider depreciation, replacement costs, or actual cash value, depending on your policy’s terms.

Settlement

If your claim is approved, you will receive a settlement offer from your insurance company. Review the offer carefully and make sure it aligns with your understanding of your policy and the extent of your loss. If you disagree with the offer, you can negotiate with your insurance company or seek legal advice.

Another option is to contact a public adjuster. This individual can negotiate on your behalf and also evaluate any settlements offered by the insurance company.

Payment

Once you accept the settlement offer, your insurance company will issue payment for the approved claim amount. Depending on the type of claim, this may be paid directly to you or to a third party, such as a repair shop or medical provider.

Claim Closure

Once the payment has been made and all necessary repairs or replacements are completed, your insurance claim will be considered closed.

Remember to keep a record of all communication and documentation related to your claim, as this can be helpful in case of any disputes or issues that arise during the process.