Commercial Insurance Adjuster
As commercial claims adjusters, we represent commercial property owners in their efforts to seek adequate compensation from insurance companies. We are paid on a contingency basis, so you don’t pay out of pocket. We receive compensation once your claim is settled.
Insurance Claims Adjusters Are Regulated
Insurance claims adjusters are regulated in most states. Historically, before states began adapting regulations, insurance adjusters were often independent contractors who negotiated with insurance companies for a fair settlement. Under the newer claims handling regulations, an adjuster is licensed and has a fiduciary responsibility to the insured. When we accept your case, we will negotiate with the insurance company on your behalf. You will, however, make the final decision on whether or not to accept a claim settlement.
We Are Transparent About Fees
At Hope Public Adjusters, we always discuss our contingency fees with the client before entering a contract with them. As Hope Public claims adjusters, we have extensive knowledge and experience handling diversified insurance, so, as our client, you will know you are getting accurate information.
Insurance claims are very complicated and can become confusing as more items get added to the list. You can be sure that we have the knowledge and experience required to handle the complex issues that can arise.
As public adjusters, we also anticipate costs that aren’t immediately apparent, including debris removal and clearance of the site in preparation to rebuild.
Sometimes commercial policies will include a section outlining insurance company responsibility regarding premise site clearance and debris removal. This typically includes coverage for dismantling and demolishing buildings, shoring and propping up dangerous or adjacent buildings, and site clearance.
Debris clearance can be very expensive, especially if hazardous building materials such as asbestos have to be removed or if the site was storing chemicals or dangerous machinery that should be treated and removed by specialist clean-up teams.
We Are Mission Critical for Business
When it is critical to open your business again, it’s important to have us working on your behalf as your professional commercial claims adjuster. As a business owner or manager, you know that closing your facility means lost operating profits and maybe lost contracts or customers. There are many ways that an experienced adjuster can optimize your insurance claim settlement, and pushing for a rapid conclusion is one of them.
Evaluating Commercial Claims
Insurance adjusters are responsible for assessing claims from all customers. This includes property owners, renters, operators of nightclubs, barber shops, convenience stores, hospitals, government offices, and more. The state licenses us to do the claims-handling work we do, and we have years of experience dealing with all sorts of customers. We examine property damage with the critical eye of professionals. Our experience allows us to determine the total cost of repairs and replacement quickly.
Our role as insurance adjusters is to analyze all aspects of the claim. We do an in-depth review of the commercial property to see what repairs need to be made, what was damaged, relevant business interruption costs, who was at fault, and more. In most cases, claims are settled out of court. This is because our goal is to help with a fair settlement. We want to ensure that everyone has a fair opportunity to get a reasonable settlement when accidents occur.
How an Insurance Company Processes Claims
When an insurance entity receives a claim, it will assign an adjuster to the case. That adjuster is responsible for controlling the insurer’s costs. While they may not argue against specific estimates you’ve received from contractors, they may try to limit their liability by not including all costs in their estimate. When independently assessing damages for commercial property claims, we frequently see discrepancies between our assessments and the insurance adjusters. As public adjusters, we can argue against the insurance company assessment on behalf of the client.
We can approach a dispute about the insurance claim in several ways. The insurer often will argue that there was pre-existing damage or that the owner or custodian of the property failed to take appropriate action to mitigate the damage. By property documenting the damage as quickly as possible after the incident, we can weaken the argument.
As you can see, many different factors can potentially affect whether or not an insurance claim is valid. Because these determinations are subjective, they are very important to review. There are several ways to select which public adjuster to use in your claim situation.
About Insurance Companies
As we’ve previously mentioned, the insurance company is not necessarily your friend, but the policy terms bind them. Their goal is to prevent substantial losses by paying the minimum required. Ultimately, they are only bound by the limits of the policy coverage and have an extensive understanding of loopholes and legal obligations, as well as how to use these specifics to their advantage to save as much money as possible.
When is it a good time for you to bring on a commercial claims adjuster? If you are a property owner or managing a commercial real estate business, then the odds are good that you will need help from us at some point, and it can be helpful to know who to call before you need to. Property damage is a common claim that we are happy to help you with as our valued client. As public adjusters, we are often needed to help owners and managers who have suffered damage to their property. Furthermore, property insurance is essential for any owner.
The largest risk a business faces is from liability to others and the potential costs and damages a company could face if a claim was made against it. All companies are required by law to have in place liability cover, called employer’s liability insurance or EL, to protect their staff against all potential risks and accidents while in the workplace. However, companies are not required to work with an adjuster, even though it may differentiate between a major headache or a simple claims process.
Commercial liability insurance is usually sold as a package. It will always include Public Liability, often just known as PL, which protects the company against claims from the public while on the business premises.
An additional type of liability insurance called Product liability is also available to companies under a commercial liability policy which protects the company against claims made for design or manufacturing faults in the product.
Company directors can also protect themselves against liabilities with Directors and Officers insurance (D&O) cover.