Is There a Public Adjuster on This Check and How Does It Work?

A public adjuster is a professional who represents policyholders in insurance claims. They work to ensure that the policyholder receives a fair settlement.

Public adjusters are often hired by policyholders to help navigate the complex insurance claims process. This can be especially helpful for those who are not familiar with insurance terminology or procedures.

The public adjuster's fee is usually a percentage of the total settlement, which is typically paid by the insurance company. This fee is usually not more than 10-15% of the settlement.

Policyholders can find public adjusters through professional associations or word of mouth. It's essential to research and choose a reputable public adjuster to work with.

The question of whether a public adjuster's fee is included on a check is governed by a regulation in New York. N.Y. Comp. Codes R. & Regs. tit. 11, § 25.12 (1995) (Reg. 10) is the relevant rule.

In some cases, an insurer may be required to include the mortgagee's name on the public adjuster's fee check if the insured requests it. The question of whether this is necessary is at the heart of the matter.

The regulation in question states that an insurer must provide a separate check payable solely to the public adjuster if the insured requests it.

The insured has signed a letter requesting the public adjuster be added as an additional payee. The property has a mortgage.

The insurer proposes issuing two separate checks. One check would go to the named insured and the mortgagee, while the other check would go to the named insured, the mortgagee, and the public adjuster for the public adjuster's fee.

The public adjuster insists that the check for their fee should not include the mortgagee.

If you're looking for a public adjuster, it's essential to do your research to find a good one.

A public adjuster's experience matters, so look for one who has been in business for a long time. For example, some public adjusters have been around for 16 years.

Having a team of licensed adjusters on staff is also crucial. A public adjuster with 6 licensed adjusters on staff can handle more cases and provide better service.

When it comes to fixing your property damage, connections to contractors are vital. Look for a public adjuster with great connections to contractors.

You should also consider the fee the public adjuster will take. Some public adjusters only take 10% of the claim check.

Here are some key things to consider when hiring a public adjuster: