Updated: Aug 3, 2021
Not many know that a public insurance adjuster (AKA public adjuster) is a state licensed insurance professional who works on behalf of the policyholder, not the insurance company.
Homeowners and businesses hire public adjusters when they need help filing a claim to recover what they are owed when property loss occurs or when they feel their claim amount offered by their insurance company is being underpaid-sometimes denied altogether.
The reason insurance companies hold on to your money.
Insurance companies have developed techniques over the past two decades that help them hold on to the premiums that policyholders pay, which is why claim payments are delayed or denied. Insurance companies gets to hold onto your money between the time you pay premiums and the time you file a claim (assuming the insurance company pays out).
As Warren Buffet was quoted:
"Insurers receive premiums upfront and pay claims later. This collect-now, pay-later model leaves us holding large sums -- money we call "float" -- that will eventually go to others. Meanwhile, we get to invest this float for Berkshire's (insurance company's) benefit."
What this means is that the insurance company holds on to your money for as long as possible so they can use this free money to invest and make more money off of the policyholder. This also helps insurance companies to remain solvent (that's a good thing for the policyholder).
Now you can see why large insurance companies may hold on to your money by delaying or denying your claim.
Public Adjusters seek to ensure the policyholder (that's you) gets treated fairly by maximizing the amount you are truly owed -according to your loss- in a timely fashion.
The insurance policy is complicated to read and interpretation can be subjective. Often times the insurance company won't tell you what you are actually entitled to which means you may miss out on a larger settlement.
Public Adjusters are skilled at interpreting your policy and will recover all that you are entitled to according to your contract.
Make sure your property claim is handled appropriately from the start.
Hiring a public adjuster costs you nothing out-of-pocket. They work on a contingency.
If you do not get paid, the public adjuster does not get paid. Simple.
Reach out to Smart Claims Public Adjusting for a free policy review and property inspection.