Frequently Asked Questions
Public Adjusters FAQ
A public adjuster is a licensed professional who can help policyholders navigate the complex insurance claims process. They work on behalf of policyholders, not the insurance company, to ensure that they receive a fair settlement for their claim.
An insurance adjuster is employed by the insurance company to evaluate and settle claims. A public adjuster, on the other hand, works for the policyholder to advocate for their interests and ensure they receive the maximum payout for their loss.
You should consider hiring a public adjuster if you have suffered property damage or loss and need assistance navigating the insurance claims process. A public adjuster can help ensure you receive a fair settlement and maximize your payout.
Public adjusters typically charge a percentage of the total claim payout, usually between 5% and 20%. The exact percentage may vary depending on the complexity of the claim and the state you are in.
No, you are not required to hire a public adjuster to file an insurance claim. However, many policyholders find it helpful to hire a public adjuster to ensure they receive a fair settlement, especially for complex or high-value claims.
Yes, a public adjuster can help with denied insurance claims by reviewing the policy, gathering evidence, and negotiating with the insurance company to ensure a fair settlement.
When hiring a public adjuster, look for someone who is licensed, experienced, and has a good reputation. You can check their license and credentials with your state’s insurance department and read reviews from other policyholders.
The time it takes to settle a claim with a public adjuster can vary depending on the complexity of the claim and the cooperation of the insurance company. However, a public adjuster can often speed up the process by negotiating on your behalf and ensuring all necessary documentation is submitted promptly.
Yes, a public adjuster can help with both residential and commercial insurance claims. They have experience with a wide range of claims, including those related to property damage, business interruption, and liability.
To find a reputable public adjuster, ask for referrals from friends or family, check online reviews, and verify their license and credentials with your state’s insurance department. It’s also a good idea to interview multiple candidates to find someone you feel comfortable working with and who has experience handling claims similar to yours.
An arbitrator is a neutral third party who is appointed to resolve disputes between two or more parties. They are often used as an alternative to going to court and their decisions are usually legally binding.
Arbitration begins with the parties agreeing to submit their dispute to an arbitrator. The arbitrator then reviews the evidence, listens to testimony from both sides, and makes a decision. The decision is usually final and binding.
Almost any type of dispute can be resolved through arbitration, including contract disputes, employment disputes, and consumer disputes. Some industries, such as construction and healthcare, have specific arbitration procedures.
Arbitrators can be chosen in a variety of ways, including through mutual agreement between the parties or through a pre-existing agreement between the parties. In some cases, arbitrators may be appointed by a court or arbitrator organization.
The cost of arbitration can vary depending on the complexity of the case and the arbitrator’s fees. Generally, the parties will split the cost of the arbitration equally, unless otherwise specified in their agreement.
Arbitration is often faster than going to court, as the parties have more control over the scheduling and timing of the proceedings. However, the length of arbitration proceedings can vary depending on the complexity of the case.
In most cases, an arbitrator’s decision cannot be appealed. However, there are limited circumstances where a court may overturn an arbitration award, such as if the arbitrator was biased or there was a procedural error.
No, an arbitrator cannot force the parties to settle. Their role is to make a decision based on the evidence presented to them, but they cannot make the parties agree to a settlement.
No, an arbitrator cannot provide legal advice. Their role is to make a decision based on the evidence presented to them, but they are not allowed to provide legal advice or represent either party in court.
There are a variety of ways to find an arbitrator for your dispute, including searching online directories, contacting a local arbitration organization, or asking for recommendations from your attorney or other professionals in your industry.
An insurance appraisal is a process where an impartial appraiser assesses the value of a property, item, or damage caused by an insured event, to determine the amount of compensation to be paid by the insurance company.
An insurance appraisal can be performed by an independent appraiser hired by the policyholder or by an appraiser appointed by the insurance company.
The length of an insurance appraisal varies depending on the complexity of the appraisal, but typically takes anywhere from a few days to a couple of weeks.
The cost of an insurance appraisal varies depending on the type of appraisal and the appraiser’s fees. However, the cost of the appraisal is usually split between the policyholder and the insurance company.
An insurance appraisal is an assessment of the value of a property or item, whereas an insurance inspection is a review of the condition of the property or item to determine the risk of loss.
A total loss in insurance appraisal refers to a property or item that has been damaged beyond repair or its value is less than the cost of repair.
Yes, a policyholder can dispute an insurance appraisal by requesting a review of the appraisal or hiring their own appraiser for a second opinion.
If the insurance company and the policyholder’s appraiser cannot agree on the value of the property or item, they may appoint a third-party umpire to make a final decision.
A binding appraisal in insurance is an appraisal process where both the insurance company and the policyholder agree to accept the appraiser’s decision as the final determination of the value of the property or item.
You can find a qualified insurance appraiser by asking for recommendations from your insurance company, insurance agent, or local professional appraisal organizations. You can also search online for appraisers who specialize in insurance appraisals.