Hello BP community, Had a large fire at my complex and dealing with insurance for the first time. Getting lots of advice and input, but still a searching for the right answers. To start off, I need advice on: 1) Public Adjusters. They’re asking for 10% of the claim and claim (no pun intended) that they will rightfully get your claim estimate to be right vs the insurance company, somewhere in the ballpark of 20-30% more. So, are they worth it? Do they really make that big of a difference in the claim estimate? Does the insurance estimate usually and actually come in unfairly low like they claim? Have some follow up questions too but looking for this initial advice to start off with.

@Raj Kamaria I'm sorry to hear about the fire at your property. I hope no one was hurt.  

As far as insurance goes, you'll want to present the claim to the insurer in the best way to maximize coverage available under the policy. Every claim is different, but there are often areas of a policy that may be subject to interpretation. Particularly where there is business interruption, there can be disputes about how the loss is calculated. 

In those cases, representation from an adjuster or an attorney experienced with insurance can help you organize the claim and argue for coverage where necessary. Whether it makes sense to hire an attorney v. adjuster (or neither) typically depends on size of the claim, and any pushback you receive from the insurer. 

PM me if you'd like to discuss in more detail. I 'll try to answer your answer any questions you may have.

Originally posted by @Raj Kamaria :
Hello BP community,

Had a large fire at my complex and dealing with insurance for the first time. Getting lots of advice and input, but still a searching for the right answers. To start off, I need advice on:

1) Public Adjusters. They’re asking for 10% of the claim and claim (no pun intended) that they will rightfully get your claim estimate to be right vs the insurance company, somewhere in the ballpark of 20-30% more.

So, are they worth it? Do they really make that big of a difference in the claim estimate? Does the insurance estimate usually and actually come in unfairly low like they claim?

Have some follow up questions too but looking for this initial advice to start off with.

 I used a public adjuster and it was worth every penny.  After the fees I still made $50k more.  I will PM you his info

Originally posted by @Raj Kamaria :
Hello BP community,

Had a large fire at my complex and dealing with insurance for the first time. Getting lots of advice and input, but still a searching for the right answers. To start off, I need advice on:

1) Public Adjusters. They’re asking for 10% of the claim and claim (no pun intended) that they will rightfully get your claim estimate to be right vs the insurance company, somewhere in the ballpark of 20-30% more.

So, are they worth it? Do they really make that big of a difference in the claim estimate? Does the insurance estimate usually and actually come in unfairly low like they claim?

Have some follow up questions too but looking for this initial advice to start off with.

 If you are losing - why not pay someone a few points to get it all squared away and maximize your claim - remember they earned it not by just showing up, but years of experience, you want the extra $$$ you need to pay for the means of getting there. 

I used to be a Public Adjuster. We did get great settlements. Marv Johnson up in Chicago is pretty good at this.

You will need to preserve and protect the property from further damage. I recommend Jim Suebert of Pride Cleaning and Restoration for that task. Jim knows where to draw the line. Some restoration companies aim to max your policy limits and leave you nothing to finish the job with. You can trust Jim. His company works all over the country but is located in Edwardsville, IL.

A public adjuster normally charges ten percent. That is standard across the country except in Louisiana.

Need any more feel free to call me for a few minutes. Contact info is below.

Raj,

A public Adjuster can level the playing field and definitely maximize your settlement.  I would highly recommend getting another public adjuster's eyes on your claim before you make a decision. 

Check out a Bigger Pockets forum "Public Adjuster - When it makes sense"   

Keye Voigt