When it comes to making your insurance claims, nobody does it better than an adjuster. While they might sound and look similar up top, there are a few differences between an adjuster and a public adjuster that you should know before you go ahead and pick one to help you in your claims.
What is an adjuster?
A claims adjuster or just an adjuster is a professional who personally inspects all the insurance policy claims. First, he will evaluate himself if the policyholder’s claims are just and estimate the worth of the claim made by him. Then, depending on the type of insurance, he investigates the case, talks to the people related to it, and does additional research to assign a value to the claim.
What is a public adjuster?
A public adjuster is a professional that the policyholder hires to represent him and assist him with the insurance claim. He helps his client with the entire process from documentation, application, negotiation, and even the payment. He sees the whole case on behalf of his client but charges a fee in exchange for his services.
Adjuster vs. Public Adjuster
Now that we know who they are and what their job is, let’s look at a few major differences in their job before contacting ProFloridian Public Adjusters Palm Bay for help with filling your property damage claims.
The basic difference that any client would see between an adjuster and a public adjuster is that the public adjuster has to be paid a fee for his services to his client. In contrast, the policyholder does not pay the adjuster anything.
On the other hand, an insurance company pays an adjuster to do thorough research about the insurance claim, check if it is justified, and assign the right value to it. They are paid after assigning the value and do not have to wait for any other legal procedures.
The main difference between an adjuster and a public adjuster is that the insurance company employs one, and the policyholder employs the other. The adjuster provides its services to the insurance company by checking in detail the claim’s legitimacy and, later on after proper research, assigns a monetary value to it.
On the other hand, the policy owner employs the public adjuster to assist him throughout the entire process of making his claims. He acts as their guide and helps them throughout the process, from documentation to negotiation to even the payment methods. The public adjuster will have a face-to-face relationship with his employer, while the adjuster will just meet the company’s representative and have no touch later on.
Nature of profession.
While both of them are in the same line of business and, more or less, share the same profession, they are the two sides of the same coin. One represents the private cases by a single employer, while one represents an organization as a whole.
A public adjuster’s work process is lengthier as he has to be there with his employer till the claims are settled, and the payment is made while a public adjuster has just one job, which is to check how legitimate the claims of the policy are and put it in a numerical value.
On other playing fields, we must not forget that the public adjuster is hired personally by the policyholder and receives a good sum as a fee for his services. His only job is to represent one single client at a time and see the whole job through. On the other hand, an adjuster represents different companies at the same time and has multiple employers. He does not job of assistance, and his work is strictly research and no representation.
Even if their jobs are very different, they are dependent on each other and need each other’s co-operation to ensure smooth movement of the mechanism in insurance. For example, the adjuster has to assign the right value to the claims for the policyholder to get the right value out of them.
More often, the policyholder and the insurance company would not even meet. As mentioned via this https://www.lawyerroll.com/top-reasons-to-hire-a-public-adjuster-in-your-area/ post, the adjuster and the public adjuster would settle the claims on behalf of their employers and take care of all the paperwork and other legalities. Moreover, sometimes it could even be that the same person is doing both of these jobs.