The Complicated World of Insurance Made SimpleThe Complicated World of Insurance Made Simple

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The Complicated World of Insurance Made Simple

When I bought my first home, I had a real estate agent lead me through the entire home-buying process. This made it simple and easy for me. However, when it came time to choose a homeowners insurance policy, I became very confused about what made up a good policy. I started by doing a lot of online research into what homeowners insurance features were needed in my area and then finally called an agent who led me step-by-step through choosing the policy that was best for me and my home. I learned a lot during my research and time spent talking to my agent. I have also learned a lot about other types of insurance over the years, so I thought I would start a helpful blog all about insurance. I enjoy helping others, so come back often for new tips!


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The Truth Behind Two Misconceptions About Public Adjusters

If you want to ensure you collect the most money possible when your home or auto is damaged, it's probably best to hire a public adjuster rather than an attorney. However, there are many misconceptions floating around about these professionals that cause people to overlook just how important they are to the claims process and miss out on the benefits they provide. Here's the truth behind two myths about public adjusters so you have accurate information to help you decide whether to hire one or not.

Myth #1 – The Insurance Company Has an Adjuster So Hiring One Isn't Necessary

It is true the insurance company will send out an adjuster to evaluate your property and determine how much you should be paid on your claim. While the person may be very good at his or her job, the problem is that the individual works for the insurance company. Therefore, the adjuster's goal is to meet the needs of the insurance provider, not yours. This means the damage to your property may be estimated lower than expected so the insurance company won't have to pay out as much on your claim.

A public adjuster, on the other hand, works for the policyholder. It is in his or her best interest to make sure you're happy and that you get exactly what you deserve on your claim. In addition to accurately estimating the amount of the property damage, a public adjuster can help you navigate the claims process, meet important deadlines, and submit the right paperwork so you avoid having your claim denied for a technicality.

Myth #2 – Public Adjusters Charge a Lot of Money

Another myth about public adjusters is that they charge a lot of money for their services. This isn't true. Most adjusters charge a percentage of the amount the policyholder recovers from the insurance company (e.g. 10 percent). For instance, if the insurance company pays out $75,000 on your claim and the adjuster charges 10 percent, you would only have to pay the person $7,500.

Additionally, the amount a public adjuster can charge is typically capped by state laws. In New York, for instance, adjusters cannot charge policyholders more than 12.5 percent of the recovered amount. It's also important to note that some adjusters will cap their fees at a certain amount as well. For instance, the adjuster may charge you 10 percent of your recovery but the total amount you pay will never be more than $25,000.

There are many more misconceptions about public adjusters floating around. It's best to consult with one directly who can provide answers to your questions. For more information or help with a claim, contact a local adjuster, such as at Trust Public Adjusting Group.