Public Adjuster FAQs
What is a public adjuster?
A public adjuster is an insurance professional who represents policyholders rather than insurance companies. They serve the public, not private insurance carriers. This means that a public adjuster works on your claim with you, for your benefit. Like insurance company adjusters, public adjusters estimate insurance losses. However, because they work for you and are paid out of your final settlement, they are highly motivated to increase your settlement.
Are public adjusters regulated?
Yes, all public insurance adjusters must maintain a state license. In Florida, the licensing authority is the Florida Department of Financial Services. Licensees must meet specific prerequisites, apply for a license, file a bond, submit fingerprints, pass an exam, and maintain the license through taking continuing education courses.
Who can use a public adjuster?
Policyholders are a public adjuster's primary clientele. In general, policyholders use public adjusters for complex or costly insurance claims and for reversing a claim denial.
How do I pay a public adjuster?
The pay structure for public adjusters is regulated with payment coming out of the final settlement as a small percentage. They are never paid in advance nor are they paid if a settlement is not reached.
When is the best time to retain a public adjuster?
Ideally, the best time to retain a public adjuster is immediately after the property has been damaged. This immediately takes the burden off of your shoulders and allows the adjuster get to work right away. However, public adjusters can help you at any time during the claims process – even after you've filed a claim and received a claim denial letter.