Public adjusters play a crucial role in many insurance claims. However, public adjusters are professionals who charge a fee: they’re not charity workers.
All honest public adjusters disclose fees upfront, making it easy to see how much they cost while avoiding any surprises at the end of the claim.
Here are three fast facts to know about public adjuster pricing, public adjuster fees, and how much you can expect to pay for your next public adjuster:
3) They Charge a Pre-Arranged Fee Based on the Final Insurance PayoutPublic adjusters charge a fee based on the final payout from your insurer. Once you accept your insurer’s final settlement offer, you pay your public adjuster a cut of that settlement – typically between 8% and 15%.
Some public adjusters charge a fee based on the whole amount. Others only charge their fee based on the amount they added to the claim.
If the public adjuster added $15,000 in value to your insurance claim, for example, and your insurer’s initial offer was already $45,000, then your public adjuster might charge a cut of the $15,000 instead of the $60,000 total claim value.
2) It’s a Contingency Fee, So You Only Pay at the EndPublic adjusters typically work on a contingency fee basis. That means policyholders don’t pay until they accept the final settlement offer from the insurance company.
In most cases, you pay no other fees to your public adjuster upfront. Like a personal injury lawyer, the payment comes entirely from the final settlement.
Once you’re happy with the amount of money your insurer offers, you can accept the settlement and pay your public adjuster.
1) They Typically Work on Cases Valued Over $10,000Public adjusters work on a contingency fee basis, charging a percent of the final payout. The larger the insurance dispute, the more money the adjuster will make. That’s why most public adjusters will not bother with claims under $10,000.
As a general rule, you should only hire a public adjuster if the insurance claim, or the disputed amount of your claim, is more than $10,000.
Ask your public adjuster for pricing information during a free consultation. All reputable public adjusters disclose complete fee information upfront, making it easy to see how much your public adjuster will cost.
Here are three fast facts to know about public adjuster pricing, public adjuster fees, and how much you can expect to pay for your next public adjuster:
3) They Charge a Pre-Arranged Fee Based on the Final Insurance PayoutPublic adjusters charge a fee based on the final payout from your insurer. Once you accept your insurer’s final settlement offer, you pay your public adjuster a cut of that settlement – typically between 8% and 15%.
Some public adjusters charge a fee based on the whole amount. Others only charge their fee based on the amount they added to the claim.
If the public adjuster added $15,000 in value to your insurance claim, for example, and your insurer’s initial offer was already $45,000, then your public adjuster might charge a cut of the $15,000 instead of the $60,000 total claim value.
2) It’s a Contingency Fee, So You Only Pay at the EndPublic adjusters typically work on a contingency fee basis. That means policyholders don’t pay until they accept the final settlement offer from the insurance company.
In most cases, you pay no other fees to your public adjuster upfront. Like a personal injury lawyer, the payment comes entirely from the final settlement.
Once you’re happy with the amount of money your insurer offers, you can accept the settlement and pay your public adjuster.
1) They Typically Work on Cases Valued Over $10,000Public adjusters work on a contingency fee basis, charging a percent of the final payout. The larger the insurance dispute, the more money the adjuster will make. That’s why most public adjusters will not bother with claims under $10,000.
As a general rule, you should only hire a public adjuster if the insurance claim, or the disputed amount of your claim, is more than $10,000.
Ask your public adjuster for pricing information during a free consultation. All reputable public adjusters disclose complete fee information upfront, making it easy to see how much your public adjuster will cost.