If you recently suffered a loss in the state of Florida, then maybe you have encountered a public adjuster. There are some 2000 public adjusters in the state of Florida. It is said that some 1,500 to 1,700 of them remain active. Statistics relay that public adjusters and Florida homeowner’s insurance attorneys may increase the value of your claim threefold.
You may not be aware of exactly what a public adjuster does. In fact, many people are surprisingly unfamiliar with public adjusters. Public adjusters help the insured (the person making the claim) present the loss to his/her insurance company. Public adjusters have existed in the U.S. since the late nineteenth century. Most states, including Florida, require that public adjusters be licensed through the State. Indeed, states like Florida impose standards and regulations on public adjusters. Some of these regulations will be explained in fuller detail below.
It should be noted that public adjusters are not licenses to practice law. In many circumstances a homeowner, claimant, commercial property, or condo association find that both a public adjuster and Florida insurance claims attorney must be retained. The combination of a public adjuster and an attorney may help bring the best results. Many policyholders/homeowner’s believe that it is best to make a claim on their own. We strongly recommend a policyholder/homeowner retain a Miami homeowner’s insurance attorney or public adjuster to assist with the claim.
There are certain limitations or caps on public adjuster fees in the State of Florida. For example, a public adjuster is not entitled to get any compensation that is the result of an initial offer made to a Citizens policy holder. Furthermore, a public adjuster cannot charge more than 10% on any monies offered above and beyond an initial offer made to a Citizens policy holder. An adjuster is also limited to 10% if he is making a claim within the first year of a declaration of emergency. If the claim is not the result of an emergency, then the public adjuster is limited or capped at 20%. Also, supplemental or reopened claims are limited to 20% cap as well. The above mentioned caps only apply to residential and condominium associations only. Nonetheless, it should be noted that you are entitled to negotiate your fees with an adjuster and an attorney as well. For more information on public adjuster fees and regulations you can look at the website for the Florida Department of Financial Services.
This page also contains a plethora of information regarding many issues pertaining to insurance carriers in the State of Florida. The link provided above also provides information regarding contracts between policyholders and public adjusters. For example, by reading this page you may learn that you have three (3) days to rescind or nullify a contract with a public adjuster without consequence.
At The Goldstar firm we are here to assist you through your claims process. Our South Florida homeowner’s insurance lawyers are available 24/7 to answer any of your questions. We understand dealing with a property loss can be trying on you and your family. We can be reached at 305.764.9907 or 1.888.413.8353.