Curious about what our licensed public adjusters do, and how we can help you? Take a look at the frequently asked questions below.
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What is a public adjuster?
A public adjuster is a licensed professional who represents the insurance policyholder. While every insurance company has its own claims adjuster to protect its bottom line, policyholders don’t automatically get their own representation, which puts them at a disadvantage when submitting a claim. However, by hiring a public adjuster, the insurance policyholder gets someone in their corner to review their insurance coverage, inspect damages, prepare documentation and estimates, negotiate on their behalf, and more.
What types of claims does a public adjuster work with?
Public adjusters may vary in terms of what types of claims they work with. For example, some public insurance adjusters only work with commercial claims. However, at Ranciato and Ranciato Licensed Public Adjusters Group, LLC, we work with residential and commercial claims alike.
We will help you reach a settlement for the following claim types: fire and smoke damage, water damage, wind damage, hurricane and flood damage, tornado damage, hail damage, building collapse, property theft, vandalism damage, and business interruption.
When should I call a public adjuster?
For optimal results, you should retain a public insurance adjuster immediately following property damage or loss.
If you wait, your insurance company will assign their own independent claims adjuster to your case. At this point, they will contact you and immediately start diminishing your claim. Without proper knowledge and experience in building components, insurance policies, and the true extent of damage you could be making a costly mistake relying on the assigned adjuster and contractors hired by your insurance company, not yourself.
Unfortunately, if you don’t hire a Public Adjuster immediately, your chances of receiving a fair, and beneficial settlement covering the total extent of your damages is at risk.
Why can’t I trust my insurance agent to handle my claim?
Unfortunately, while your insurance agent may seem perfectly kind and willing to help you, they have a conflict of interest. Your agent has a financial relationship with the insurance company, so they are incentivized to undervalue your damages and thus underpay you for your losses.
Can someone else besides a public adjuster represent me?
The only parties who can legally represent you are yourself, an attorney, and a state-licensed public adjuster. Beware of any contractor or other unlicensed individual who tells you they can represent you or negotiate on your behalf. These individuals are not insurance policy experts and will only make matters worse for you. Moreover, they could be fined $10,000 for posing as a public adjuster without a state-issued license.
How much does it cost to hire a public adjuster?
Public insurance adjusters charge a percentage of the amount recovered as their fee. In the state of Connecticut, where Ranciato Public Adjusters Group, LLC, is headquartered, the maximum fee is 10%. This is a good system because it incentivizes public adjusters to get the maximum settlement for their clients.
How do I know if I need a public adjuster?
Depending on your insurance policy and claim, you may not require a public adjuster. For this reason, Ranciato Public Adjusters Group, LLC will give you an initial review of your claim for free. We will evaluate the strength of your claim and determine whether the claim is insubstantial or disputable. Then, we will walk you through whether or not we believe you should pursue the claim and retain our services.