When a commercial property suffers a major loss, the first settlement offer from your insurance company may not reflect the full value of the claim.
Hailstorms, hurricanes, tornadoes, fires, and water damage can affect much more than the building itself. Roofing, equipment, inventory, building systems, tenant improvements, and business operations may all be impacted. Properly identifying, documenting, and valuing these losses can make a significant difference in an insurance recovery.
So, does working with a public adjuster really increase your claim payout?
In a lot of instances, yes. Public adjusters can help commercial property owners pursue stronger claim recoveries by identifying the full scope of damage, reviewing applicable coverage, documenting losses, calculating financial impacts, and negotiating with the insurance company.
What Does a Public Adjuster Do?
A public adjuster represents the policyholder during the insurance claim process. For commercial property owners, this involves much more than documenting visible damage.
- Review the insurance policy and applicable coverage
- Inspect and document property damage
- Prepare repair and replacement estimates
- Identify additional components of the loss
- Document equipment, inventory, and contents
- Calculate business interruption and extra expenses
- Organize supporting claim documentation
- Communicate with the insurance company
- Negotiate the scope and value of the claim
The goal is to develop a complete, well-supported claim that accurately reflects the covered loss. Continental Adjusters public adjusting services support commercial property owners throughout this process.
How Public Adjusters Can Increase Claim Recoveries
1. Identify the Full Scope of Damage
Commercial property losses can involve multiple building systems and loss components. A detailed assessment can evaluate roofing, structural elements, mechanical and electrical systems, specialty finishes, equipment, contents, and other affected property.
A complete assessment helps ensure the claim reflects the actual scope of the loss.
2. Build a Well-Documented Claim
A strong commercial insurance claim is supported by clear evidence. Photos, repair estimates, invoices, inventory records, engineering reports, contractor documentation, and financial records can help establish the extent and value of the loss.
A public adjuster can organize this information into a comprehensive claim that clearly presents the property’s damage and financial impact.
3. Apply Insurance Policy Knowledge
Commercial insurance policies can include numerous coverage provisions, endorsements, limits, and conditions.
A public adjuster can review the policy alongside the physical and financial loss to identify applicable coverage and help develop the claim around the policy.
4. Accurately Value the Loss
Restoring a commercial property can involve more than basic repairs. Labor, materials, specialized equipment, contents, reconstruction requirements, and other expenses may contribute to the total claim value.
When a loss affects business operations, lost income and additional expenses may also need to be calculated and documented. Forensic accounting can help quantify business interruption and other financial losses associated with a commercial property claim.
5. Negotiate the Claim Professionally
Commercial insurance claims often involve detailed discussions about damage, repair costs, valuation, and coverage.
A public adjuster brings together damage assessments, estimates, financial calculations, documentation, and policy analysis to present a well-supported claim and negotiate with the insurance company on behalf of the policyholder.
For complex technical issues, expert witness services can provide specialized support. When there are differences in property valuation, appraisal and umpire services can provide another option for addressing those differences.
When Can a Public Adjuster Add Value?
A public adjuster can be especially valuable when a commercial property loss involves:
- Major property damage, including hail, tornado, hurricane, fire, or water damage
- Business interruption
- Equipment or inventory losses
- Multiple damaged building systems
- Significant repair or reconstruction costs
- Complex commercial insurance coverage
- Extensive claim documentation
Professional claim management allows business owners to focus on restoring their operations while experienced professionals manage the details of the insurance claim.
So, Do Public Adjusters Really Increase Claim Payouts?
Yes, a public adjuster can help increase the value of an insurance claim by making sure the damage, costs, and financial losses are fully identified and supported. While no settlement amount can be guaranteed, real claim data and commercial case studies show that professional claim representation can lead to higher recoveries.
A Florida OPPAGA study reviewed more than 76,000 Citizens Property Insurance claims and found that claims involving public adjusters generally received higher payments. For hurricane claims, the median payment was $22,266 with a public adjuster compared with $18,659 without one.
Continental Adjusters has seen similar results across numerous complex commercial claims. There are numerous case studies where Continental Adjusters’ experience and expertise have helped identify additional claim value. In one shopping center hailstorm claim, the initial offer was $5 million, while the final settlement reached $8.4 million, resulting in an additional $3.4 million in recovery.
The value of a public adjuster comes from the work behind the claim. This includes documenting property damage, reviewing policy coverage, preparing accurate repair estimates, calculating financial losses, and presenting the claim clearly.
For commercial property owners, Continental Adjusters combines extensive experience with specialized knowledge of complex property losses to help identify, document, and pursue the full value of a claim.
Frequently Asked Questions
Do public adjusters really increase insurance claim payouts?
They can help strengthen claim recoveries by identifying the full scope of damage, documenting losses, reviewing applicable coverage, accurately valuing the claim, and negotiating with the insurance company.
How does a public adjuster increase a claim’s value?
A public adjuster can assess property damage, identify additional loss components, review policy provisions, organize documentation, calculate financial losses, and develop a detailed claim valuation.
Can a public adjuster help with business interruption?
Yes. Public adjusters can help evaluate and document business interruption and extra expense losses. Forensic accounting can also help quantify the financial impact.
When should a business contact a public adjuster?
For a significant commercial property loss, contacting a public adjuster early can help document damage, evaluate the scope of the loss, organize supporting records, and establish a strong claim from the beginning.
What other services can support a complex commercial claim?
Depending on the circumstances, forensic accounting can support financial loss calculations, expert witness services can provide specialized analysis, and appraisal and umpire services can address property valuation differences.
Get Expert Help with Your Commercial Insurance Claim
If your business has suffered property damage from a hurricane, tornado, hailstorm, fire, water loss, or another major event, Continental Adjusters can help you understand and document the full scope of your claim.
From property damage assessment and claim preparation to financial loss analysis and professional negotiation, the right expertise can help you build a comprehensive claim based on the full scope of your loss.
