Public Adjuster vs Independent Adjuster RI – What’s The Difference?

Public Adjuster vs Independent Adjuster RI – What’s The Difference?

Have you ever wondered what the difference was between a public adjuster vs independent adjuster? Knowing the difference between the two can save you a ton of money. Although the two sound very similar and self-explanatory, there is a huge difference between using an independent adjuster versus using a public adjuster.

two public insurance adjusters estimating a fire damage claim
Insurance Adjusters

What Is An Insurance Adjuster?

            An insurance adjuster is someone who will come to your home to assess all damages and losses from any peril that may have occurred. An insurance adjuster will come after your claim has been made and will give an estimate to the insurance company as to how much they believe you are owed in order to repair your damages. However, the payout of a claim may be extremely different depending on whether you use an independent adjuster or a public adjuster.

What Is An Independent Adjuster?

One would think that an independent adjuster is one who is privately hired to be an insurance adjuster and that is the only difference; but no. An independent adjuster is an adjuster who works for an insurance company to settle out claims. The goal of the independent adjuster is to make sure that their insurance company is paying out as little as needed to you. The issue with an independent adjuster is that they do not have the homeowner in mind when conducting their assessment, they are just thinking about how to minimize how much you will be getting from the said insurance company. The reason that insurance companies use and profit from independent adjusters is because the adjuster is working on their side and wants the claim to be settled in the company’s favor, not you, the homeowner.

What Is A Public Adjuster?

data on why you should hire a public adjuster in rhode island for your property damage insurance claim
OPPAGA Analysis. Data refers to the median (50th percentile or typical) payment.

            Different from an independent adjuster, a public adjuster is part of its own company in which they are hired directly by the homeowner to help assess their peril, with the maximum payout for the homeowner’s settlement in mind. Similar to independent adjusters, public adjusters are well-educated in both insurance company claims and as well as properly assessing your damage so that you may get all that you deserve from your claim and possibly even more. Since you are hiring the public adjuster, they will be taking out a small portion of what you get back from your insurance company as their fee for helping you.

Why Should I Hire A Public Adjuster vs Independent Adjuster in RI?

The most beneficial part of hiring a public adjuster vs independent adjuster is the payout you receive when your claim has been settled. In a research study conducted by OPPAGA (The Office of Program Policy Analysis and Government Accountability), they found that using a public adjuster can get you, on average, 747% MORE money than what you would get if you did not have a public adjuster as representation. Another great benefit is that a public adjuster can still help even after your claim has been closed!

 

If you have property damage and have not filed an insurance claim yet OR if you have already filed an insurance claim, click here for a free in-home or virtual consultation with our licensed RI public adjusters.