"MAKING THE ODDS EVEN"
OVER A QUARTER CENTURY OF EXPERIENCE
SERVING FLORIDA CONSUMERS STATEWIDE
Tampa***Spring
Hill***Miami***Port Charlotte***Lakeland
SINKHOLES
*** HURRICANES *** FIRES
TELE: 863-701-9799
E-MAIL: FPA@FloridaPA.net
The Truth About Public Adjusters
WHAT IS A PUBLIC
ADJUSTER?
A Public Adjuster is an adjuster who is licensed by the
Department of Financial Services to work exclusively for the benefit of the
policy holder.
WHAT IS THE
DIFFERENCE BETWEEN A PUBLIC ADJUSTER AND THE INSURANCE COMPANY’S ADJUSTER?
The Public Adjuster is employed by you, and their fiduciary
responsibility and duty must be to you. The insurance company’s adjuster is
employed by the insurance company, and their responsibility and duty must be to
their employer. It’s not possible for any insurance adjuster, no matter how hard
he or she may try, to zealously protect both your interests and the interests of
his or her insurance company at the same time. After all, their instructions
come from their employer, not from you.
I HAVE ALREADY BEEN
PAID AND THE INSURANCE COMPANY HAS CLOSED THEIR FILE. IS IT TOO LATE FOR YOU TO
HELP?
Probably not. Florida generally allows up to five years to
file a supplemental claim from the date of loss. If you do not believe you were
paid the right amount and would like us to review your claim, just let us know.
We provide a FREE CLAIM AUDIT. You will owe nothing unless we obtain more
money.
WHY SHOULD I EMPLOY
A PUBLIC ADJUSTER TO OBTAIN WHAT IS RIGHTFULLY DUE ME?
Preparing an insurance claim can be a complicated and
complex task. There are just too many details and variables which arise that
can be easily overlooked. The decision to use a Public Adjuster has very little
to do with whether or not you believe the insurance company will or will not try
to be fair. Public Adjusters will almost always obtain much greater settlements
than individuals, not only due to their skill in evaluating, estimating, and
appraising, but also because of their experience with the “ins and outs” of the
insurance industry. As is true in any profession, the more experience and
training one has, the better the final results. The State of Florida recently
released the results of an extensive investigation, and found that public
adjusters, on average, obtained more than 500% than what Citizens Property
Insurance Corporation tried to settle their claims for.
AM I ASSURED A
HIGHER SETTLEMENT IF I USE YOUR SERVICES?
Almost always. The more thorough and complete your claim,
the higher the settlement. In fact, in the recent Oppaga Report, the
State of Florida released the results of an extensive investigation, and found
that public adjusters, on average, obtained more than 500% than what Citizens
Property Insurance Corporation tried to settle their claims for.
DO
I HAVE TO PAY YOU UP FRONT?
No. We are not paid until money is collected from the
Insurance Company. In fact, we spend our money and our time helping to document
and process your claim before we are paid anything. Also, it is illegal for any
public adjuster to charge any kind of advance in the State of Florida.
WHO USES THE
SERVICES OF PUBLIC ADJUSTERS?
Public Adjusters are utilized by individuals and all types
of businesses and professions, including banks, accountants, attorneys, and even
insurance adjusters and agents on their own losses. Once a person has
experienced the benefits of our services, they will rarely attempt to settle a
claim without our assistance.
WHY CAN’T MY AGENT
MAKE SURE I GET A FAIR SETTLEMENT?
You probably bought your insurance from your agent or
broker because of his friendship and/or salesmanship. While the agent’s
expertise is in connection with the marketing of insurance policies, he or she
does not have the experience nor the obligation to render adjusting services.
In fact, we have seen many times where the insurance company demanded that the
agent stay out of the adjustment process. They were told to mind their own
business. When everything is said and done, agents cannot do much to help, and
they are just wrong if they suggest otherwise. Many people are shocked when
they learn that most agents are paid an annual bonus if their claims are kept
below a certain percent, known in the industry as the profit/loss ratio bonus.
This naturally creates an undisclosed conflict of interest. With the agent
having a personal financial interest in your claim, the more he or she helps
you, the more he or she hurts himself or herself. However, agents who are aware
of our professionalism and expertise, and who have the interest of the Insured
at heart, will never discourage them from employing our services. In fact, they
often highly recommend us, as they, themselves, have utilized our services many
times after being a victim of a loss. Beware of anyone who advises you not to
seek assistance from someone with our successful track record who works
exclusively for you and your benefit.
IF WE EMPLOY A
PUBLIC ADJUSTER, WILL IT CAUSE PROBLEMS OR DELAYS?
The vast majority of our claims are conducted and concluded
in the spirit of professionalism and mutual respect with the insurance company’s
representative(s). However, if the company does not want to be reasonable, we
will never under any circumstances capitulate to any unreasonable demands or
positions they take. If there are any problems or delays in your claim, they
are the same problems which would exist whether or not we are involved. We,
however, because of our experience would know the best way to minimize certain
problems or delays, and often, just by our involvement, many problems are
avoided before they develop. While some unethical adjusters may discourage you
from employing a Public Adjuster (who is licensed by the DFS), statistics are
quite clear that Public Adjusters, almost without exception, assist in obtaining
extremely higher settlements for the Insured, not to mention the time and
turmoil the Insured is saved. It is beyond dispute that if any adjuster or
agent prefers that you do not hire a Public Adjuster, it cannot possibly be your
interest they have in mind.
SHOULDN’T I WAIT
UNTIL THE INSURANCE COMPANY MAKES AN OFFER TO DETERMINE WHETHER I NEED YOUR
SERVICES?
If you are substantially underinsured and it is likely that
you will obtain the limits of your policy, then, of course, you should wait. In
situations like that, that is always our advice to you. However, many people
make a serious error by delaying the employment of professional assistance. The
earlier we are involved in a claim, the smoother the adjusting process generally
proceeds. The insurance company often will not take certain positions when we
are involved that they may try to take when we are not. In addition, it takes a
great amount of work to determine exactly what is fair, and most people simply
do not have the necessary expertise to determine whether or not a company’s
offer is fair and accurate. Sadly we see many people who handle their own
claims accept what we know are clearly low offers (sometimes less that 50 cents
on the dollar), and yet are still quite happy with the settlement. We have also
found quite often that the longer a person waits, the more stress and duress he
or she is under. Every day many people accept substandard offers just to get
the bad experience over with. This is not the best position to be in when you
try to negotiate your claim. Bad settlements need not happen.
WILL
I BE CANCELED IF I HIRE A PUBLIC ADJUSTER?
No. The public adjusting profession is mandated by the
Legislature and regulated by the DFS. It would be a serious violation if any
Insurance Company would discriminate against you in any way for exercising a
right given to you by the State Legislature.