- 2,196
Well I agree that using new carriers is best and first solution. However sometimes its not always possible.
Property Damage Liability Amounts
- Thread starter kellyfrost
- Start date
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- property
- 2,625
I was going to report the spam and have it removed. Instead this gives me the opportunity to talk about public adjusters.
Let's use a roof as an example. The roof costs 10,000 to replace. Public adjuster charges 15%. That leaves you with 8,500 to replace your roof (less your deductible). You probably wouldn't hire a public adjuster if you knew that was the outcome. What does the public adjuster do to get customers. He promises to get you 11,500 so he gets his 15% and you get enough to replace your roof. How does he do that? He inflates the repair estimate.
What do we call that, class? INSURANCE FRAUD.
I dealt with public adjusters for years. They are scammers. Beware.
Let's use a roof as an example. The roof costs 10,000 to replace. Public adjuster charges 15%. That leaves you with 8,500 to replace your roof (less your deductible). You probably wouldn't hire a public adjuster if you knew that was the outcome. What does the public adjuster do to get customers. He promises to get you 11,500 so he gets his 15% and you get enough to replace your roof. How does he do that? He inflates the repair estimate.
What do we call that, class? INSURANCE FRAUD.
I dealt with public adjusters for years. They are scammers. Beware.
tinasam
Expert
- 51
Every post an advertisement for his site "the most perfect site".
Jack, by that logic, it is in the best interest of independent adjusters used by insurers to always undervalue claims. Over the years, I have come across what I believe to be "ethically-challenged" public adjusters. More often, I suspect that they are lacking in training or competency. On the other hand, I have met many public adjusters that I believe to be true professionals providing a service to policyholders, especially those that don't have a good agent advocating for them at claim time. One of the best coverage persons I know is a public adjuster.
Umbrellas provide both BI and PD coverage.
$100K of PD is probably adequate for most claims involving hitting another vehicle, but that's not the only way to cause PD...check out some of the wildfire parking garage claims that originated with vehicle fires. According to FC&S, the average wrongful death BI judgment is $1.4M. I've never carried an umbrella limit less than $2M.
