Last September, Hurricane Ian struck Southwest Florida and left inland flooding in Venice, resulting in the damage of several homes and businesses. This widespread destruction is a huge challenge to the insurance market, and that’s why it’s for your best benefit to ensure that you get a good settlement to cover property damage.
Take note that basic homeowners insurance does not usually cover flood damage, so check your coverage before making further steps. For you and the insurance company to come to a fair agreement, you may consider hiring a public adjuster, especially if the loss is a major one.
Public adjusters help manage an insurance claim on behalf of the property owners. They can save you time and effort, as well as negotiate a greater settlement than the average person.
Public adjusters and insurance adjusters are similar in that they both analyze the damage and prepare the claim; the only difference is the entity they work for. Public adjusters work on behalf of the policyholders while insurance adjusters work for insurance carriers.
Before you hire a public adjuster, make sure your insurance company is willing to work with one.
Responsibilities of a Public Adjuster
Here is the role of a public adjuster, according to the Florida Association of Public Insurance Adjusters (FAPIA):
- Assesses, measures, and documents all losses on behalf of the policyholder
- Advocates for the policyholder's position in the claim and argues for a good settlement
- Handles claims for damage to real property, personal property, and the related loss of income
- Receives a standard compensation which is a contingency fee in the range of 10% to 20% of the amount adjusted, which is paid by the policyholder after the claim has been paid by the insurance carrier
Public adjusters also collect police reports, witness statements, photos of an incident or property damage, and statements from everyone involved in an incident.
Pros of Hiring a Public Adjuster
- Has skills and expertise. Experienced public adjusters can navigate the insurance claims process more easily than the average person. They are experts at damage inspection and assessment, as well as coming up with proposals for repairs and preparing claims. This prevents stress and additional challenges on the part of the policyholder.
- Shares your interest. Public adjusters want to gain the highest claim payment that could be made, just like the policyholders. They provide a more comprehensive damage analysis than insurance adjusters, ensuring that you receive full coverage for your losses.
- No upfront payment is required. Public adjusters are paid a contingency fee. This means that a policyholder will only pay the public adjuster after the insurance company has paid the settlement.
- Quicker claims resolution. Public adjusters provide prompt claims assistance and immediate direction concerning repairs and restoration. They understand what is to be done, making the process faster and less stressful.
- Cheaper than hiring a lawyer. Attorney fees are more expensive compared to that of public adjusters. They charge a higher contingency fee, which is usually 33 to 40 percent of the amount paid by the insurance company.
Cons of Hiring a Public Adjuster
- Contingency fee. After a successful negotiation, public adjusters are entitled to a percentage of the settlement for their fees.
- Not always necessary. If you are familiar with the insurance claims process, filing for smaller claims may not need a public adjuster.
To avoid scams and fake public adjusters, research reputable and respected ones near you. You can verify a public adjuster’s license by checking Florida’s government website, the Department of Insurance, or the insurance commissioner’s website. You can also check for good standing with the National Association of Public Insurance Adjusters.
Contact Us for Hurricane and Storm Damage Restoration Services in Venice, Florida
We understand the challenges of storm damage restoration, and that’s why we are here to help. Contact your insurance company now and tell them you want to work with us.
ServiceMaster by Wright is available 24 hours a day, 7 days a week at (941) 265-2995 for Venice, FL hurricane damage repair. You can also schedule an appointment online or visit us at 278 Fareham Dr., Venice, FL 34293, United States. We have the expertise and equipment to help with hurricane damage restoration.
