5 Misconceptions about Public Adjusters
- December 2, 2020
- Posted by: adjuster
- Category: Misconceptions about Public Adjusters
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People refrain from seeking help from a Public Adjuster thinking that doing so would cost them a lot of money, hence depriving themselves of getting the highest possible claim settlement.
Here are 5 misconceptions about Public Adjusters:
- The adjuster takes a large chunk out of your settlement. Public Adjuster’s main goal is to help you gain the maximum settlement. The bigger the settlement is, the better it is for you. Even if you have to forgo a part of your settlement for the Public Adjuster’s fee, in the end, you are still likely to collect more. The Public Adjuster’s fees are governed by legal restrictions and there are actually limits to it. In the case of a state of emergency, for example, the Public Adjuster can only get a maximum of 10% from the final claim.
- The insurance company will increase your premiums. It is against the law for insurance companies to penalize you by increasing your premiums, should you decide to hire a Public Adjuster. Of course, having a Public Adjuster on your side will not be favorable to them, but there’s practically nothing they can do about it.
- Hiring a Public Adjuster is unethical. The Public Adjuster’s task is to negotiate with the insurance company, and whatever settlement they arrive at is agreed with by both parties. You are not violating any law by having a Public Adjuster work for you. In fact, working with a Public Adjuster will make the settlement process faster and less complicated.
- Public Adjusters are not trustworthy. Public Adjusters are licensed professionals who passed through rigid background checks and have been fingerprinted before they can practice their profession. They strictly adhere to a code of conduct and would never sacrifice their license by scamming people.
- The insurance company will terminate your coverage. You can actually sue the insurance company if they do this to you, as dropping coverage without a legal basis is against the law. They may not renew your coverage once your insurance policy expires, but they can never drop you within the validity period.