Maximizing Your Insurance Settlement: Why Every Claim Needs an Advocate

When disaster strikes and your property is damaged, filing an insurance claim can be overwhelming. Most policyholders want to quickly restore their property, unaware that their insurance company may offer a settlement that doesn’t cover the full extent of the damage. To ensure you're maximizing insurance settlements, every property manager, contractor, or facility director should consider hiring a public adjuster as their advocate. Studies show that on average policyholders who use public adjusters receive over 700% more in settlements than those policyholders who handle claims themselves. In this article, we’ll explore how public adjusters help secure fair compensation and maximize settlements.

How Insurance Companies Profit From Claims: Deny, Delay, and Underpay

Insurance companies are profit-driven, and their adjusters work for them—not you. Their goal is to protect the company’s bottom line, which often leads to denied or underpaid claims. In his book Delay, Deny, Defend, Jay M. Feinman discusses how insurers commonly use tactics to minimize payouts, leaving policyholders with settlements far below what they need for proper repairs.

For property managers, multi-family housing owners, and contractors who are trying to put the property back in pre-loss condition with the money paid by the carrier, this can be financially devastating. When dealing with complex claims, such as those involving fire, storms, or water damage, policyholders often discover that their initial settlement is far from sufficient. As David Skipton, author of The Claims Game, points out, insurance companies use technicalities and ambiguity in policies to limit their financial responsibility, often shortchanging policyholders.

What Does a Public Adjuster Do?

A public adjuster is a licensed professional who works on your behalf, not the insurance company’s. They assess the damage, document losses, and negotiate with your insurer to ensure you're maximizing insurance settlements. Public adjusters handle the claim from start to finish, reviewing your policy to ensure all coverages are included in the claim and making sure no aspect of the damage goes unnoticed.

This is particularly valuable when dealing with water and fire damage, two of the most complex and costly claims. Insurance policies cover water damage from issues like pipe bursts and appliance failures but exclude flood damage from storms. They also cover fire damage but will try to deny it by any means possible, such as accusing the insured of negligence or arson. Public adjusters know how to navigate the intricacies of policy language, ensuring you’re compensated for all covered losses, which can otherwise be overlooked by insurance company adjusters.

Maximizing Insurance Settlements: Public Adjusters Increase Payouts

One of the most compelling reasons to hire a public adjuster is to receive the settlement amount that you are owed. According to the Florida Office of Program Policy Analysis and Government Accountability (OPPAGA), policyholders who work with public adjusters often receive 300% to 3000% more in settlement money than those who handle their claims themselves. Public adjusters have the expertise to properly document, and quantify the full extent of your damage and interpret policy coverage, ensuring that your claim covers the actual cost of repairs.

Bill Wilson, author of When Worlds Collide, explains that policyholders frequently miss out on money they are rightfully owed because they don’t fully understand their policy, coverage, or the claims process. Public adjusters help ensure you're maximizing insurance settlements by making sure all potential claims are thoroughly reviewed and fully compensated.

Avoiding Common Pitfalls in the Claims Process

Handling an insurance claim without expert help can lead to costly mistakes. One of the biggest issues is failing to properly document damage. Without adequate photos, videos, detailed descriptions of the loss, and provable pricing for damaged materials and personal property, insurers may claim the damage is pre-existing or unrelated to the event, which can reduce or even void your settlement. Public adjusters ensure every detail is captured from the start, preventing insurance companies from disputing the legitimacy of the claim and helping you maximize your insurance settlements.

Another pitfall is accepting an insurance company’s initial offer, which is often far below the true cost of repairs. Insurers know that many policyholders want to move forward quickly, so they offer low settlements, hoping policyholders will take the money and walk away. Public adjusters, however, understand the actual modes of construction, and the cost of repairs and negotiate for the settlement you are owed, rather than settling for a quick, insufficient payout.

Expertise in Handling Complex Claims

For large-scale operations like commercial properties or larger industrial facilities, insurance claims can be particularly complicated. Public adjusters are experienced in handling these types of large, complex claims, ensuring that every aspect of the damage is accounted for. This is especially important with water damage claims, which can lead to long-term issues like microbial growth and structural damage if not properly addressed.

The National Association of Public Insurance Adjusters (NAPIA) points out that public adjusters are particularly useful for high-value claims. They are trained to understand the policy details and adjust large loss claims, ensuring you're truly maximizing insurance settlements.

By properly estimating damages, accounting for long-term repair needs, and ensuring that every aspect of your claim is included, public adjusters help secure fair and comprehensive settlements.

Protect Your Financial Interests with a Public Adjuster

When dealing with an insurance claim, especially after major damage, having an advocate on your side can make a significant difference. Public adjusters bring the expertise, negotiation skills, and deep policy knowledge required to maximize your settlement. By working with a public adjuster, you can ensure that your claim is fully documented, fairly assessed, and negotiated for the highest possible payout—often 300% to 3000% more than what you might receive if you handle the claim on your own.

If you're facing a claim for weather-related damage, fire, vandalism, or water damage, consider hiring a public adjuster to protect your financial interests. To get started on maximizing insurance settlements, schedule a call for a free claims and policy review with Velocity Public Insurance Adjusters. Let us help you navigate the complexities of your insurance claim with confidence.