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Industry Study: Why Insurance Adjusters Get Such A Bad Rap?

Here are some of the common misconceptions, FAKE NEWS, about public adjusters

If you are planning to hire a public adjuster, you need to do your research. Just like you would do research when hiring a professional service provider such as a plumber or electrician, you need to do the same here. You need to denounce these common misconceptions about public adjusters if you want to get proper representation when dealing with an insurance company during a claim process. Take the time to understand the job of an insurance adjuster and how it can be beneficial to you

Industry Study: Why Insurance Adjusters Get Such A Bad Rap? 9

NO

The State has put a cap on the total amount a public adjuster can receive. Keep in mind that filing of each claim takes some time and effort. The State requires that the total fee should be stated on the contract where the public adjuster and policyholder should sign. Most public adjusters handle services such as the following.

  • Filing all the paperwork on the claims
  • Investigating and scoping the property such as taking measurements, notes and photographs
  • Writing professional and detailed damage estimates and reports
  • Meeting with insurance personnel to investigate and discuss the claim
  • Making phone calls and emails throughout the claim process

The main objective of a public adjuster is to build a case that is presented to the insurance company on your behalf.

Industry Study: Why Insurance Adjusters Get Such A Bad Rap? 10

NO

To get a public adjusters’ license, one must be fingerprinted and pass a background check, criminal charges are not tolerated and a person will be completely censured from applying for a public adjuster’s license. If a licensed public adjuster commits a crime, their license will be revoked and can be fined or jailed depending on the type of charge.

Public adjusters who have committed some types of felonies are barred permanently from applying for a license. For other types of misdemeanors or felonies, the applicant will be disqualified from applying for a license for a specified period. 

Industry Study: Why Insurance Adjusters Get Such A Bad Rap? 11

NO

There is a state code of ethics that regulates insurance companies thereby banning gauging. Insurance companies frown upon hiring a public adjuster because they will end up paying more. However, they can’t increase your insurance premiums for such a reason. If the insurance premiums increase, it’s because there are a lot of claims filed in a single locality prompting the premiums to increase in the entire region.

Public adjusters who have committed some types of felonies are barred permanently from applying for a license. For other types of misdemeanors or felonies, the applicant will be disqualified from applying for a license for a specified period. Being permanently barred or disqualified from applying for a license is valid regardless of whether or not the person’s civil rights have been restored or if there was adjudication withheld on the case.

A person who commits a first-degree felony, a capital felony, money laundering, embezzlement or any felony related to financial services is barred permanently from applying for a public adjuster’s license. The same is also applicable to guilty pleas, convictions or nolo contendere please regardless of adjudication by any officer, applicant, director, partner, majority owner, manager or any other individual controlling the applicant.

NO

There is a state code of ethics that regulates insurance companies thereby banning gauging. Insurance companies frown upon hiring a public adjuster because they will end up paying more. However, they can’t increase your insurance premiums for such a reason. If the insurance premiums increase, it’s because there are a lot of claims filed in a single locality prompting the premiums to increase in the entire region.

Industry Study: Why Insurance Adjusters Get Such A Bad Rap? 12

NO

Insurance companies agree to pay the amount negotiated and are not defrauded. Don’t confuse the local agent with your insurance company since they are different companies.

Insurance companies are billion-dollar companies that don’t need your allegiance or pity party, they are simply looking for your business. The local agents will sell a policy and collect a premium for the carrier and the two are completely separate companies. Public adjusters will build a case on your behalf as the policyholder using building codes, statutes and insurance information before presenting it to the insurance company. Next, the insurance company might try to refute the case just like a trial case in court.

The public adjuster and the insurance company will negotiate back and forth until they reach a fair settlement. Once they have decided on a settlement amount, the insurance company will pay out the money to you and your public adjuster.

It’s a simple process without any fraud or trickery. The insurance company will see the actual loss and agree to pay what you owe regardless of whether they like it. Insurance fraud is a very serious offense and public adjusters will not get away with it. If a public adjuster commits fraud, they will lose their license, face criminal charges and pay hefty fines. Also, they might be barred from applying for a license again, it’s not worth it!

An important part of getting to understand your customer is to know their fears and misconceptions. What “they heard” through the grape vine is your client’s only source of information (plus FAKE NEWS!).

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