Every homeowner dreads seeing their residence suffer property damage. The issues include repairing the damage and filing an insurance claim.
A public adjuster Louisiana assesses your claim and estimates your payout based on the amount of damage. The claim payouts are often lower than expected, even when you feel entitled to more money.
A public insurance adjuster may be the best way to obtain an accurate and fair home insurance claim payment. The following article will explain what a public adjuster does and the cost of hiring one.
What is a public adjuster?
Insurance claims adjusters use the severity of the loss and the policyholder’s coverage to determine how much the policyholder will receive.
You are assigned a claims adjuster by your insurance company when you make a home insurance claim. They are interested in fairly reimbursing you for your claims, considering your insurance coverage and the severity of the loss.
Homeowners sometimes hire a public adjuster to handle their insurance claims. These adjusters are independent professionals who act on behalf of policyholders. They are similar to claims adjusters; they assess your property damage, determine the extent of necessary repairs, and estimate the repair cost.
If the claim is settled, the adjuster is entitled to a payout percentage. When determining a claim payout, insurers do not consider any payments owed to the adjuster. That payment would be the responsibility of the homeowner.
How can a public insurance adjuster help you?
A public adjuster in Louisiana is well-versed in understanding insurance policies and handling insurance claims. They perform an independent evaluation of the property loss of a client using sophisticated software and have prior experience in this field. Policyholders can rely on them to process initial and supplemental claims.
Additionally, they assist clients in negotiating with contractors and their insurers. Hiring a public adjuster will protect the policyholder from inexperience and save time.
Cost of hiring a public insurance adjuster
Many adjusters in Louisiana don’t charge any fee to visit the site; however, they charge the policyholder for filing a claim. For example, public adjusters without much experience might cap their fees to $5,000, while experienced adjusters can charge up to $15,000.
An insurance adjuster in Louisiana will typically charge a percentage of what a policyholder’s insurance company ultimately pays. Suppose he recovers up to $100,000, he is entitled to a fee of $10,000, around 10% of the total payout.
As per the 2019 census, there are more than 1,751,956 households in Louisiana, and an estimated cost of rebuilding a house is $150,000. So, now you might imagine why home insurance and getting the appropriate claim are necessary.
In the case of a property insurance claim, the applicant should also consider hiring a public adjuster, mainly if the claim is highly complex or highly valued, such as in natural disasters like wildfires, floods, or earthquakes. Generally, they aren’t allowed to settle for more than your insurance policy limits, but there are exceptions. So, with these points in mind, now you can hire a public adjuster for you.