Considering Public Adjusters After a Fire
Hi everyone,
I’m new to this process, so I appreciate your patience. Recently, we experienced a significant fire at our building in Maine. The damage is extensive, and we’re unsure if it will need to be demolished or if it can be rebuilt.
The insurance adjuster reached out and mentioned that we might be approached by public adjusters, but it’s completely our choice whether to engage one.
We’re uncertain about what this entails. Should we consider meeting with a public adjuster? Will they be able to secure us a larger settlement than the insurance company adjuster? I understand that the insurance company adjuster represents the insurer, not us.
The insurance adjuster seems like a good person and has been straightforward with us, which builds some level of trust. However, I know that public adjusters will likely say they are the ones we can rely on.
How do I determine whom to trust?
I would truly appreciate any insights you all can share on this topic!
Hi there,
I’m sorry to hear about the fire; that sounds incredibly challenging. It’s great that you’re seeking information to make the best decision for your situation.
Public adjusters can be very helpful, especially in complex claims like yours. They represent you, the policyholder, and work on your behalf to ensure that you receive a fair settlement from the insurance company. They often have industry experience and knowledge of policy language, which can help in negotiating a better payout.
Here are a few points to consider:
Expertise: Public adjusters are trained to evaluate damage and estimate costs more accurately. If your building suffered significant damage, they can help ensure all aspects of the loss are accounted for.
Fees: Be aware that public adjusters typically charge a fee, which can range from 5% to 15% of the total settlement. While this may seem like a lot, the increase in the settlement amount they can negotiate might exceed their fee.
Communication: You mentioned that the insurance adjuster seems trustworthy, which is good. However, keeping in mind that they work for the insurance company, having a public adjuster on your side can provide a sense of security and ensure your interests are prioritized.
Comparison: It might be beneficial to meet with a public adjuster for an initial consultation. They can provide insights into the potential settlement amount based on what they see and explain their process. Knowing what they estimate compared to the insurance company’s offer can help you make an informed decision.
Trust Your Instincts: Ultimately, you need to feel comfortable with whom you work with. If you do decide to meet with a public adjuster, trust your instincts about their approach and professionalism.
In short, it could be worthwhile to explore the option of hiring a public adjuster, especially given the extent of the fire damage. Take your time in making this decision, and don’t hesitate to gather multiple opinions before proceeding.
Wishing you the best in navigating this tough situation!