Rental Property Investor · Atlanta, GA · Member since 2021 · 28 posts · 13 votes
Hope you're doing well! I'm currently dealing with severe property damage on a single-family fifixer-upper in the Atlanta metro area, and my insurance adjuster hinted at hiring a public adjuster.
I'm new to this and could use some guidance. Any tips on finding a reputable public adjuster in Atlanta? Also, what's the typical fee structure for single-family homes?
Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
2y
Jarreau,
A public Adjuster takes over the handling of the claim on your behalf. Normally, they negotiate with the company and advise you on the loss. They generally are compensated on a percentage of the final claim amount. You may have some negotiating room on the percentage. Generally, once you engage a Public Adjuster, your agent is out of the loop. So if there is anything you want to discuss with your agent you may want to do that beforehand
Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
2y
Jarreau,
A public Adjuster takes over the handling of the claim on your behalf. Normally, they negotiate with the company and advise you on the loss. They generally are compensated on a percentage of the final claim amount. You may have some negotiating room on the percentage. Generally, once you engage a Public Adjuster, your agent is out of the loop. So if there is anything you want to discuss with your agent you may want to do that beforehand
Hope you're doing well! I'm currently dealing with severe property damage on a single-family fifixer-upper in the Atlanta metro area, and my insurance adjuster hinted at hiring a public adjuster.
I'm new to this and could use some guidance. Any tips on finding a reputable public adjuster in Atlanta? Also, what's the typical fee structure for single-family homes?
Thanks in advance for any help you can provide!
You can find a public adjuster or a GC who works well with insurance companies. We were looking for one because a tree fell on our Short Term rental. The PA’s we found wanted 10% to 15% of the amount received from the insurance company. That’s kind of high to me and a lot out of the insurance claim money that wouldn’t go towards repairs. We ended up going with GC we feel comfortable with, will work with insurance company and complete getting our house back together. I can send you the details if you want. Maybe they can point you in the right direction.
Rental Property Investor · Atlanta, GA · Member since 2021 · 28 posts · 13 votes
2y
@John Mocker@Myron McDaniel Very helpful and timely comments! It provides more clarity for me as this is new and uncharted territory - especially how the repairs/draws take place seeing that this was a vacant fixer-upper and the lender in 1st lien has a rehab loan. It has been somewhat stressful coordinating activities and coming up with the best plan, but I went ahead and contracted with a PA. Thank you again for your help!
Okay, great. I'm glad you were able to find someone. If you are looking for a licensed GC to help you with your project, take a look at Peridot Assist (770-984-5353). They have multiple crews and a helpful team that can help you with your project.
Real Estate Agent · Emerald Coast, FL · Member since 2016 · 820 posts · 486 votes
2y
I hired a public adjuster after Hurricane Michael and was able to get almost 3 X what my insurance company wanted to pay me. Worth every penny they got in compensation. I'd do it again in a heartbeat.
I’ve been in a similar boat and totally get how overwhelming it can be. When we had major storm damage to our place, I considered hiring a public adjuster too. A friend advised me to check reviews online and look for someone local with experience in single-family homes. Fees are usually a percentage of your settlement (I think around 10-15%), so make sure you’re comfortable with that before signing anything.