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The Value of Hiring a Licensed Public Adjuster

 


What's the role of a public adjuster I’m Jill Horner and this is Comcast Newsmakers with me this hour is Gene you know he is president at the American Association of public insurance adjusters. Thanks for being with us thank you Jill thank you for having it's the first of all let's define what you do as an organization, what a public adjuster actually does and the role that they serve for both homeowners and business owners.

 

Gene - What the American Association a public insurance adjusters is an office situated in Washington DC. Our role is to make sure that all the laws across the country are maintained so that the licensed public adjuster follows all the rules and regulations. The key role that the public adjuster is to advocate for the homeowner business owner when in fact they may have a property loss that should occur.

Jill - So if that's the role, how do you advocate on their behalf as a public adjuster?

Gene - Many homeowners and business owners will retain a public adjuster when a loss should occur. Other times the public adjuster will meet with the homeowner to review their policy to make sure that they have adequate coverage. I think one of the most important aspects that the public adjuster does is reviewing the policy before there is a loss like a hurricane or some sort of catastrophic event. Once you know the limits of your policy, you are then able to better protect your assets whether it be your property or business or home

Jill - So that's one aspect of it this proactive approach to understanding if you have enough insurance if you have enough coverage for your home or for your business but let's talk about the other aspect of it. If you do have a claim what role do you serve in that process how do you work as almost a negotiator or mediator

Gene - Absolutely Jill, one of the most important aspects a public adjuster when a loss occurs is a family that may have lost their home due to fire or flood. When hurricane damage occurs in the Gulf Coast state, a public adjuster comes in and assists that family first in finding adequate housing so that they can determine how bad the extent of the damage that has occurred. The second thing they will do is they will assess the damage they are experts in claim assessment, knowing how bad the damage is, writing detailed reports, working with construction companies, builders, and contractors. Then assessing the true value of the damage at that property. Once that is determined, they then begin to negotiating with the insurance companies. Now listen, insurance companies and their role is to cover the policy, but they don't always pay the extent of what the damage is. When a public adjuster is analyzing their policy, they will determine what in terms should that policy cover. Then they negotiate, mediate, and come to a settlement and behalf of the homeowner or business owner.

Jill - Why is it important to have someone who is a public adjuster in place rather then work to do I a claim on your own if your homeowner or business owner

Gene - Well, I was speaking to lawyer from Rutgers University this past month and he had said to me his policy is fifty pages and it took him time just to go through the policy to understand all the different details and coverages. I think as a homeowner you purchase your home or business, the first thing you wonder is if you have coverage. Yes, you put that you policy away and really never look at it until and an occurrence. So we advocate that knowing what your policy really is about is the most important thing when you purchase your home. Purchase your home, purchase good quality insurance, work with your insurance companies. A public adjust his role is to go in and assess their policy and even advise you when you need additional riders to cover losses, in the event of current losses

Jill - We just have a short time left but how do we know that our public adjuster is licensed and adequate and professional to do this job.

Gene - Great question Jill. In 44 states currently, public adjusters are licensed by the Department of Insurance in six other states they're highly regulated. We maintained at the Association a Public Insurance Adjusters, that public adjusters must follow all the rules regulations and they must attain a continuing education. It's a great profession and its highly regulated by the insurance industry in major cities across America.

Jill - Thanks so much.

Gene - Thank you.

Jill - We have been talking with Gene who is the president of the American Association of Public Insurance Adjusters.(AAPIA)

David Miller
David Miller
Thank you for visiting us. My name is David Miller, and I know what it means to have to fight with your insurance carrier just to get fair payment for your property damage claim. My family suffered a total loss house fire that took nearly two very stressful years to settle. Since, I combined my experience in construction with my expertise in contract language to create Miller Public Adjusters. We work exclusively for policyholders. Please feel free to comment, ask questions, and let us know how we can help.

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