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During an insurance claim, there is often a conflict between the interests and the insured who wants to receive as much money as possible to compensate for the loss he or she sustained and the insurance company that wants to minimize the value of the claim. Public adjusters advocate for the policyholder to maximize the value of the claim and to provide a level playing field for the insured. They represent the public and adjuster claims that affect the settlement value.
Public adjusters evaluate a policyholder’s property loss and they help the policyholder file an insurance claim in exchange for the payment of a fee. Unlike insurance adjusters, public adjusters do not work for the insurance company and are not vested in protecting the insurance company’s profit. They are the only property loss professionals who work for the policyholder and attempt to get the top value for the policyholder’s claim.
Some of the specific functions that a public adjuster fulfills include:
Public adjusters typically charge a percentage of the insurance settlement value. For example, if the policyholder receives $100,000 settlement and the public adjuster calls for a 10% fee, the public adjuster would be due $10,000. Because the public adjuster is paid in this manner, he or she does not usually get paid until the claim has been resolved and the insurance company has made a settlement with the policyholder.
The fees that a public adjuster charges vary between the adjusters and jurisdictions. In Florida, the maximum fee a public adjuster can charge is 20%. If there is a natural disaster declared by the Florida governor, the maximum fee is 10%. Palm Beach County public adjusters can also cap the dollar amount of their fees or may apply a lower percentage to high-dollar claims. The percentage of your Palm Beach County public adjuster charges as outlined in your fee agreement. The agreement will also indicate the services the public adjuster will provide in exchange for that fee. Often, public adjusters do not charge for the initial site visit but will charge if they file a claim.
While some policyholders may be hesitant to pay a fee out of their settlement, the value that an experienced public adjuster can garner from helping with a claim is often well beyond the amount of their fee.
Following damage to your property, our public adjusters can file your claim with your insurance company in a timely manner.
If you are interested in using one of the best public adjusters in Davie, FL, do not hesitate to contact us with a question or concern. We offer a free claim review and we will get back to you extremely quick. We serve all of South Florida but our Dade County, Broward County, and Palm Beach County offices can be reached at 954-603-7174.
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