Commercial property owners face many risks, from fire and floods to theft and storm damage. When disaster strikes, filing an insurance claim becomes critical. But here’s the challenge: insurance companies want to minimize payouts, while property owners want to maximize them. This is where public adjusters come in. Understanding the difference between public adjusters and insurance companies can help you get the most out of your claim.
What Is a Public Adjuster
A public adjuster is a licensed professional who works on behalf of policyholders, not insurance companies. Their job is to evaluate damages, prepare claims, and negotiate with insurers to secure the highest possible settlement.
What Insurance Companies Do
Insurance companies assign their own adjusters, often called company adjusters or independent adjusters. These adjusters represent the insurer’s interests. Their goal is to control costs and limit payouts.
Key Differences Between Public Adjusters and Insurance Companies
Representation Public adjusters represent you, while insurance company adjusters represent the insurer. Motivation Public adjusters aim to maximize your claim. Insurance companies aim to minimize it. Payment Public adjusters are paid a percentage of the claim settlement. Insurance company adjusters are salaried employees or contractors. Expertise Public adjusters specialize in property damage claims. Insurance company adjusters focus on protecting the insurer’s bottom line.
Why Public Adjusters Can Help
- They understand complex insurance policies and can explain coverage in simple terms.
- They document damages thoroughly, including hidden or overlooked issues.
- They negotiate directly with insurers, saving you time and stress.
- They often secure higher settlements than property owners could on their own.
Common Challenges With Insurance Companies
- Delays in processing claims.
- Lowball settlement offers.
- Denial of certain damages.
- Complicated paperwork and legal language.
How to Maximize Your Commercial Property Claim
Hire a Public Adjuster Early Bringing in a public adjuster at the start ensures your claim is prepared correctly. Document Everything Take photos, videos, and keep receipts for repairs and replacements. Review Your Policy Know what’s covered and what’s excluded before filing a claim. Stay Organized Keep all communication with the insurance company in writing. Don’t Accept the First Offer Insurance companies often start with a low settlement. Negotiate or let your public adjuster handle it. Use Experts Public adjusters may bring in engineers, contractors, or accountants to prove the true value of your losses.
Benefits of Using a Public Adjuster
- Higher claim payouts.
- Faster resolution.
- Less stress for property owners.
- Professional handling of complex claims.
When You Might Not Need a Public Adjuster
- Small claims with minor damages.
- Situations where the insurance company is cooperative and fair.
- If you have strong knowledge of your policy and confidence in negotiating.
Conclusion
Insurance companies are focused on protecting their profits, while public adjusters are focused on protecting your property. If you want to maximize your commercial property claim, hiring a public adjuster can make a huge difference. By documenting damages, understanding your policy, and negotiating effectively, you can secure the settlement you deserve and recover faster from losses.