Public Insurance Adjuster
Many people are not aware that a public insurance adjuster is a professionals that is licensed to work directly for the policyholder during a property damage occurrence. Only public adjusters and lawyers are legally allowed to represent a policyholder during an insurance claim.
Public adjusters are usually able to secure significantly more in total settlement fees, covering their cost, as well as the policyholder’s needs for repair and replacement from losses. This is accomplished by knowing what the policyholder is entitled to for the loss, and how to write the estimate. The public adjuster’s whole job is to ensure every policyholder receives a fair settlement!
Public Insurance Adjuster Defined
- A public adjuster serves as the advocate for the policyholder – before, during and after a time of loss – unlike other adjusters who works directly for the insurance carrier and their interests.
- Public adjusters obtain a license by the Florida Department of Insurance proving they have the authority to represent the policyholder’s interest. And, they are required to participate in 24 hours of continuing education every two years to maintain that license.
- Public adjusters carry a $50,000 surety bond
Public Insurance Adjuster’s Role
The public adjuster’s role is to:
- Inspect and value the property damage
- Read and interpret the 30-page policy to determine actual coverages
- Advise the policyholder on their best course of action
- Document and build the insurance claim
- Submit and manage the claim with the insurance company; and
- Obtain a fair financial settlement for the policyholder
From The Office of Program Policy Analysis & Government Accountability (OPPAGA)
“Policyholders with Public Adjuster representation typically received higher settlements than those without public adjusters. Policyholders filing catastrophe claims in 2008 and 2009 generally received larger insurance settlements than policyholders who did not hire these persons. The difference in payments was larger for claims to 2005 hurricanes, with public adjusters resulting in payments that were 747% higher.”
Source: Office of Policy Analysis and Government Accountability, January 10, 2010
Download: Oppaga Study
Benefits of Hiring a Public Insurance Adjuster
The benefits of hiring a public adjuster to represent you during the insurance claims process include:
- Public adjusters are held to a high ethical standard and fee cap that is enforced by the Florida Department of Insurance
- Public adjusters are paid between 10-15% of the total settlement amount versus lawyers and attorneys who are paid 30-40%.
- Public adjusters usually more then pay for their contingency fee by negotiating a higher settlement payment.
- Public adjusters understand insurance policy language, how to properly assess total damage, write an accurate estimate and negotiate a fair settlement amount to restore, not just repair, a property
- Public adjusters represent the policyholder’s interest unlike staff and independent adjusters who represent the insurance carrier’s interest.
- Public adjusters save you time, money, and aggravation
South Florida’s Public Insurance Adjuster
Steven David Venook of Advocate Claims Public Adjusters has been serving policyholders of Broward, Miami-Dade and Palm Beach counties for nearly two decades. Venook has depth of experience working as a public insurance adjuster and representing thousands of residential and commercial property owners who have experienced some type of loss occurrence.
Don’t take on the insurance carrier on your own. If you experience property damage of any kind, contact Steven Venook at Advocate Claims Public Adjusters at 954-369-2869. Make sure you have a licensed public adjuster with the industry knowledge and expertise in your corner!