Frequently Asked Questions
What is a public insurance adjuster?
A public insurance adjuster is a private adjuster that works directly for YOU instead of the insurance company. We serve as an advocate for you throughout the entire claims process to protect your best interests. Any professional sent by an insurance company may naturally have a conscious or subconscious bias toward helping the insurance company, whether they admit it to you or not. I was an independent insurance adjuster for over four years and will tell you that they do not bite the hand that feeds them. You paid your premium to your carrier as an investment, and I will help you get the maximum ROI you deserve!
Will my insurance company drop me or raise my rates if I hire a PIA?
They are not allowed to drop you for a catastrophic event or natural disaster. Rates go up for a variety of reasons, and your insurance agent is typically the best resource for this information. Do not be someone who receives an increased rate despite not filing a claim for legitimate damage covered by your policy. It would also be unfortunate if you sell your property and pay retail pricing for repairs that were supposed to be covered by your insurance policy.
What happens if you are unable to get them to approve the estimate from my contractor?
There is no fee for no recovery. I will happily refer you to several qualified insurance attorneys if I am unable to deliver you the results you deserve.
How does the process work?
The process varies depending on the circumstances. Some of the factors taken into consideration are whether the claim is brand new with a pending inspection from the insurance company or if it has already been inspected, resulting in underpayment or a denial. Please call my office to schedule a free consultation and review of your situation.
Why would my insurance company want to deny or underpay my claim?
Insurance companies are in business to earn a profit. They make billions of dollars in profits every year by denying or underpaying claims. Whenever a legitimate claim is filed, they owe you money. They have everything to gain at your expense by paying you nothing or as little as possible. Are you allowed to pay whatever you think is fair whenever your premiums are due or do they tell you their price and expect you to pay it, otherwise, they don’t bind your coverage?
The internal guidelines and procedures followed by insurance adjusters also have nothing to do with the agent that sold you your policy. I know plenty of wonderful agents that get frustrated with the companies they represent whenever their customer is not being treated fairly and putting them in a bad situation if their customer chooses to take their business elsewhere.
How do you get paid?
I collect 10% of the final payment awarded by your insurance company, which they refer to as the Replacement Cost Value (RCV) on your insurance paperwork (Adjuster Summary). The process is typically 3-9 months, depending on a variety of circumstances, especially during this ongoing pandemic.
Most litigation attorneys take longer than this and typically charge 30-40 percent of the final settlement for their service. This fee sometimes leaves it difficult for your contractor to have enough money to get the repairs completed properly, so it is always best to use attorneys as a last resort. Most attorneys will not accept claims that are smaller because of their hefty fees. A PIA is a solid investment, especially on claims with disputed amounts of $30,000 and below.
Contact Mike Acerra