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A wise woman once said, “You can pay with time or money, but you always pay”. We’ve found that the same is true when it comes to settling a claim with your insurance company. And we’re not the only ones: In 2010 OPEGGA (Office of Program Policy Analysis & Government Accountability – an office located here in Florida) released a study called Public Adjuster Representation in Citizens Property Insurance Corporation Claims Extends the Time to Reach a Settlement and Also Increases Payments to Citizens’ Policyholders.
When it comes to insurance claims, the process can be time-consuming, complicated, and frustrating. Insurance companies have teams of adjusters and attorneys whose job it is to minimize the amount of money they pay out to claimants. This can make it difficult for individuals and businesses to receive the full compensation they deserve for their losses.
This is where LMR Public Insurance Adjusters come in. They are professionals who are trained and experienced in the insurance claims process, and they work on behalf of claimants to help them receive fair compensation for their losses. LMR understands that their clients’ time is valuable and that the longer the claims process takes, the more stressful it can be 5 ways Hiring Public Adjuster will level out the playing field.
LMR’s approach to “Time vs. Cash” involves finding a balance between maximizing their clients’ insurance settlements and minimizing the time and effort required from the client. They strive to provide efficient and effective insurance claims assistance, using their expertise and knowledge to navigate the claims process as quickly and smoothly as possible.
This article found that having a PA involved in reaching a settlement increased claim payments anywhere from 500-700%
Insurance companies used this study to warn homeowners of the disadvantage of hiring a PA. Does that confuse you? A 500-700% increase in your payout! How could that be a negative thing? Their angle: it would take longer to reach a settlement. Perspective is an interesting thing, don’t you think?
Another interesting thing to note is that the “quick pay-out” is only IF you take the first offer they give. If you try to fight for a larger settlement on your own the wait time for a settlement can be longer than said dreaded wait with a PA on your side.
The report states that, “Policyholders that disagree with their insurance company regarding claim settlements (e.g. scope of loss, damage estimate) can resolve the dispute through mediation, appraisal or litigation.” Mediation is non-binding whereas appraisal and litigation are binding. All three options can be highly time consuming and emotionally draining.
So what’s the down side of hiring a PA? We don’t see one, do you?
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