Insurance adjusters are people who are hired to help an insured fill in insurance claim after a disaster, for example road carnage, fire breakout, robbery among others. There are three categories of insurance adjusters namely; staff adjusters, independent adjusters and public adjusters. The main difference between them is who hires them. Staff adjusters are officially employed and paid by an insurance company. Independent adjusters are contractors hired and paid by an insurance company when need arises. Therefore an insured does not need to pay any amount of money when receiving their services. A public adjuster on the other hand is hired and paid by the insured. The adjuster determines how …show more content…
Since they are hired by the insured, their first priority is to protect the interest of the insured.
They negotiate fair value of insured’s claim. Public adjusters are more likely to negotiate the value of insured’s claim so that they get much more compensation money than the insurance company was willing to pay.
Public adjusters don’t ask for fees unless the insured has been paid. As public adjusters charge a percentage of one’s claims, an insured is not required to pay them until he/she has received full compensation.
Consequences of using a public adjuster
Cost of hiring a public adjuster. Public adjusters sometimes demand too much fee from the total claim one is to receive. Hence it may result into the insured going making a loss.
May not be aware of current policy of insurance company. Since the public adjuster works for the client, he/she may not be aware of the new policies hence may lack the ability to regain maximum claims.
In conclusion, despite there being demerits of public adjusters, they are worth hiring and may help an insured regain claims much faster. However one needs to be careful with the type of public adjuster he or she is hiring. Professional consultation needs to be conducted In order for an insured to gain maximum