New Jersey Public Adjusters Can Help Homeowners Rebuild
THANK YOU to everyone who took a few minutes to fill out our quick survey. We’re constantly trying to grow Rebuild New Jersey and the feedback we receive from our community helps us choose which directions to pursue.
If you missed the survey, you can still fill it out HERE. It only takes 2 minutes.
One of the questions in the survey is this: What is the single most frustrating aspect of your business right now?
In addition to lead gen and getting more business, one of the most common answers was waiting for insurance money to come through for homeowners.
It’s definitely frustrating if you’re doing dozens of estimates every month, but most of the people don’t have any money yet.
Or they have money, but not nearly enough to cover the project cost because their insurance company low-balled them.
There’s no magic bullet to solve this issue, of course, but one thing to consider is informing your customers about the benefits of New Jersey public adjusters.
What is a public adjuster and how do they help homeowners?
Let’s start out by defining what an insurance claims adjuster. The claims adjuster is the person who works for an insurance company who is responsible for coming to your home to assess damage and file a claim. As is the case with any large-scale natural disaster, such as Sandy, there are three potential problems with adjusters who work for insurance companies:
- They work for the insurance company, not the homeowner. Of course they are supposed to be fair and unbiased, but at the end of the day, their paycheck is signed by the insurance company. Our world revolves around incentives.
- Many of them are not from New Jersey and don’t know our local market. Following Sandy, insurance companies send adjusters to NJ from all over the country. These people did not necessarily know our local codes and regulations, as well as what things actually cost, which in NJ is higher than many parts of the country.
- These out-of-towners were itching to get back home. Their job was to come to NJ, do as many adjustments as they could, and go back home in a couple weeks. Therefore, there was the possibility that they rushed through homes and were not thorough in their assessments.
I’m not making accusations. I’m just saying that the above circumstances can lead to inaccurate claims, many times which are too low.
This is a reason why many homeowners received a settlement far below the cost to repairs their home to ‘pre-event condition’.
New Jersey Public Adjusters, on the other hand, are available for homeowners to hire as a second opinion. The way it usually works is that a homeowner hires a public adjuster on a contingency basis, which means that, if the public adjuster is successful in getting more money awarded to the homeowner, the homeowner pays the adjuster a percentage, often 25%. 25% may sound like a large percentage, but at the end of the day, the homeowner is getting access to money he or she didn’t have before, so receiving 75% of something is better than 75% of nothing.
Public adjuster are all over. You probably even know a few. If you don’t, there are several on Rebuild New Jersey: http://www.rebuildnewjersey.com/listcat/appraisers-adjusters/
A public adjuster just may be the solution that your customers need to get more money for their insurance claims or even to accelerate the claims process, where possible.
An added benefit of introducing your customers to public adjusters is that you earn ‘trusted advisor status’ with your customers, where they begin to see you as more than a contractor – they see you as someone who is looking out for their best interests and genuinely solving their problems.
If anyone has any more insight into working with New Jersey public adjusters, please let me know by hitting reply to this email.