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Apr 12, 2024
Discover the truth about your insurance carrier's role during a claim process. Learn how public adjusters can ensure a fairer outcome for policyholders.
Understanding the Role of Your Insurance Carrier During a Claim
Filing an insurance claim can feel like a never ending process. You're dealing with damage, stress, and the uncertainty of what comes next — not to mention covering unexpected costs while you’re waiting on a claim resolution.
It's comforting to think that your insurance carrier is there to guide you through this tough time, ensuring your best interests are protected. But is this always the case?
Let's dive into the reality of insurance claims, the role of your carrier, and how public adjusters can be the ally you didn't know you needed.
The Dual Faces of Insurance Claims
At its core, an insurance company is a business, and like any business, it needs to make a profit to survive. This fundamental truth can sometimes lead to a conflict of interest when it comes to settling claims. While many insurers strive to maintain a balance between fair claim settlement and profitability, the scales don't always tip in favor of the policyholder.
The Reality Behind Claim Settlements
When you file a claim, your insurance carrier's adjuster assesses the damage and determines the settlement amount. While many adjusters are committed to fairness, they are ultimately employees of the insurance company, with its interests in mind. This dynamic can lead to settlements that might not fully cover your losses or fairly compensate for your damages.
Enter Public Adjusters: Your Advocates
This is where public adjusters come into play. Unlike insurance adjusters, public adjusters work directly for you, the policyholder. Their mission is to ensure you receive the maximum compensation allowed under your policy. With an expert understanding of insurance policies and claim procedures, public adjusters level the playing field.
Why Consider a Public Adjuster?
Expertise: Public adjusters specialize in understanding the intricacies of insurance policies and claim negotiation.
Advocacy: They act as your advocate, ensuring your claim is presented in the best possible light for a fair settlement.
Time-saving: Handling an insurance claim can be time-consuming. Public adjusters take this burden off your shoulders, managing the process from start to finish.
Improved Outcomes: Statistically, policyholders who use public adjusters often receive higher settlements than those who go it alone.
Finding the Right Balance
It's important to remember that not all insurance claims require a public adjuster's assistance. For straightforward, minor claims, working directly with your insurance carrier may suffice. However, for complex or significant claims — especially where there is a discrepancy over the value of damages — a public adjuster can be invaluable.
While your insurance carrier plays a crucial role in the claim process, their interests may not always align with yours. Recognizing when you might need an advocate on your side is key to navigating claims and receiving fair compensation. Public adjusters offer expertise and advocacy, ensuring you're not handling the insurance process alone. Remember, knowledge is power, especially when it comes to protecting your interests.
Need more information on when to hire a public adjuster? Check out our recent blog, , where we go into the details of when to hire a public adjuster, what types of claims they handle, and where you can find a reputable one in your area.
About the Author
Dorothy is the industry-leading climate benefit network, helping homeowners and businesses prepare and protect their property before, during, and after a weather event. Our team comprises compassionate individuals deeply committed to addressing climate challenges, with expertise spanning various fields such as urban planning, climate-focused technology, property recovery, and related industry topics. Together, we work to empower our communities and address the impact of climate-related events.
Sources
"Experts discuss the profit-driven motives of insurance companies and their impact on claim settlements." Insurance Journal.
"Public adjusters play a crucial role in advocating for policyholders to ensure fair claim settlements." Claims Journal.
"The intricacies of the insurance claim process and the potential conflicts of interest between insurance companies and policyholders." National Association of Public Insurance Adjusters.
"The legal complexities surrounding insurance claims and the various jurisdictional approaches to conflicts of interest." Gordon Rees Scully Mansukhani, LLP.
