Property owners often describe the process of submitting a claim to an insurance company as a fulltime job. Just think. The claim...
Property
owners often describe the process of submitting a claim to an insurance company
as a fulltime job. Just think. The claim process can be gruesome because it can
include filling out tons of paperwork, making accurate calculations of damages
and hours of negotiation. Many find it a challenge to work with insurance
companies because they aren’t knowledgeable in insurance lingo. Typically,
property owners have to deal with numerous tasks that pertain to owning
property especially in instances where they are responsible for multiple
dwellings. Hiring a Korean public adjuster can be especially helpful in these
types of instances.
When
Does A Property Owner Need to Hire A Korean Public Adjuster?
Public
insurance adjusters are experts in insurance policies. Individuals who own
homes or commercial buildings can benefit from their services. Property owners
will require the services of an adjuster in situations where their property has
experienced a form of devastation from a fire, water damage or destruction from
a natural disaster. Experiencing the
loss of such devastation can be overwhelming for the property owner. A public adjuster can handle claims for
damage done to a property due to fire, smoke, hurricanes, and wind. In the wake
of devastation, property owners may be especially concerned with piecing their
lives back together. Property loss can also affect other areas of the owner's
life which can be a loss of business income. This aspect is also taken into
consideration. Therefore, hiring a public adjuster
to care for the insurance legalities related to the loss can be beneficial.
Hiring
a professional is necessary if you’re having difficulties dealing with an
insurer. Insurance companies process thousands of claims each day. As a result,
they don’t always maintain adequate communication with property owners.
Three
Benefits of Hiring A Public Adjuster
What
exactly can our Korean public adjuster do for a property owner? Check out these
top reasons for hiring a skilled adjuster can be beneficial for owners.
1. Maximize
Settlement Amount
Studies
have shown that insurance adjusters can help their client receive a larger settlement
amount then they would have been able to get on they're own. The number one
goal of the insurance company is to save as much money as possible which is why
they tend to negotiate lower settlement amounts. A study conducted in Florida
revealed that public adjusters were able to negotiate more than 700% increase
in the settlement amount for commercial and residential property owners. Yes,
an adjuster will fight for the pay that you deserve.
2. Decrease denial rate
There
are instances in which property owner’s claim can be denied for whatever
reason. Often, denial can be contributed to an error made on the part of the
property owner or the insurance agency. However, when there is a public
adjuster working on the behalf of the claimant, there is a decrease in mistakes
because they are well versed in insurance policies and regulations. This will,
in turn, reduce the likelihood of getting a claim denied.
3.
Reduced Stress
When
property owners hire a public adjuster they entrust the adjuster to handle the
entire process. Yes, the adjuster will handle all the paperwork, filing, follow
up and negotiation. This allows property owners to focus on putting back the
pieces of they're life.
Questions
You Should Ask Before Hiring A Public Adjuster
A
property owner should make sure that they hire the right adjuster for they're
the case. Asking a series of questions can help make the right hiring decision.
Here are some important questions property owners will want to ask before they
hire a specific adjuster:
Are
you licensed to practice in my state?
The
first question you should ask a public adjuster is if they have the necessary
credentials to practice adjusting in your state? Some adjusters work under a
firm or another individual. Yet, property owners should ask to see their
license or certification. ‘The adjuster should be experienced and part of a
reputable firm.
2.
How many claims do you work on in this area?
Of
course, property owners will want to make sure that an adjuster is able to
dedicate time to fighting for them. This is a very important question if the
area has recently experienced a natural disaster.
3.
How much experience does the adjuster have?
The
amount of experience a public adjuster has can make a world of difference in
the decision-making process. This is especially so if the property owner is
dealing with substantial loss and have several thousands of dollars on the
line. It’s imperative to have a public adjuster working on the case who has the
necessary experience to handle the case. Ask for references if necessary to
further determine whether a specific adjuster is qualified to help out with the
insurance claim.
4. Talk about fees
Fees
should immediately be addressed. Most public adjusters work based on a
contingency fee that can range from 5% to 15%. Sometimes the contingency fee
can be based on the state the property lives in. The client and adjuster should
agree to upfront whether they will receive a percentage of the settlement
amount or a set fee. The fee can also be based upon portions of the claim.
5.
How does the process work?
If
the property owner has never had to file an insurance claim it may be difficult
to understand how the claim process works. Therefore, understanding how the
process works can help them make the best decision. Questions like:
Will
I be able to still communicate with the insurance company?
Can
I terminate the contract before the settlement has been finalized?
How
long does it take to negotiate a fair settlement amount?
Since
the property owner will be working closely with the adjuster for some time it’s
imperative to determine whether the adjuster is a good fit for the case.
Communication and work style are good indicators of whether a working
relationship would be beneficial for both parties. Hiring a reputable public
adjuster can make a huge difference. Get the compensation you deserve today.
