Reasons to Hire a Commercial Public Adjuster for Your Business Loss

One of the most difficult challenges a business owner might face is property damage and losses caused by an unforeseen event. Running a business takes hard work, and dealing with an event that affects normal business operations is stressful.  

To make matters worse, it’s estimated that 75% of businesses in the U.S. are underinsured, and 40% of small business owners have no insurance at all. A survey conducted by Insureon found that 35.2% of small businesses experienced an event in the last year that could have led to an insurance claim.

Hiring a commercial public adjuster to manage your business’s insurance claim for property damage and commercial losses is a smart move.

Fire damage insurance claim

5 Ways a Commercial Public Adjuster Can Help Your Business

#1. Understands the Fine Print In Your Insurance Policy

Commercial businesses typically have insurance policies, referred to as manuscript policies, with endorsements that are structured based on their unique needs. These policies can be complex compared to a standard homeowners insurance policy.

A commercial public adjuster understands the fine print in your insurance policy and will fight for what you’re entitled to under your policy.

#2. Looks After Your Best Interests

If your business suffers damage caused by an insured event, your insurance company will appoint an insurance adjuster to handle the claim. And since commercial insurance claims can be complex, they will typically appoint a highly experienced adjuster.

The insurance adjuster is paid for by the insurance company to look after their best interests.

By hiring a commercial public adjuster, you can level the playing field by having an expert on your side who looks after YOUR best interests.

#3. Saves You Time

As a business owner, you know you cannot run your business on your own. Depending on your business, you need people in sales, marketing, customer service, production, inventory control, procurement, collections, etc. People with the right skills and experience.

Even if you could theoretically do everything yourself, you don’t have the time for it.

The same concept applies to commercial insurance claims. In theory, you might be able to do all the paperwork, deal with the insurance adjuster, appoint contractors, etc. But at what cost?

A licensed public adjuster with years of experience managing insurance claims knows what to do and how to do it. Using a public adjuster could save you a lot of time and will allow you to focus on managing your business.

#4. Negotiates the Best Possible Settlement Offer

Insurance companies are known to often offer lowball or bad settlement offers to business owners.

Many business owners don’t realize that they don’t have to accept the first settlement offer they receive. It’s open to negotiation. However, trying to negotiate with an experienced insurance adjuster that deals with claims on a daily basis can be difficult!

A commercial public adjuster can negotiate on your behalf to help you get the best settlement offer you’re entitled to under your policy.

#5. Has the Necessary Expertise

Business insurance claims can get very complicated. It’s often hard to anticipate in advance what issues may come up and what the best solution is.

For example, most commercial losses are typically not total losses. It may be impossible to sell damaged inventory as planned, but the inventory might have salvage value. In some cases it might make sense to keep the inventory as a trade-off for a reduced total loss payment.

By doing so you can prevent damaged inventory from being sold within your market at a reduced price that might hurt your business or brand.

A commercial public adjuster has the expertise and experience to propose solutions that might not even cross your mind.

Conclusion

Commercial insurance claims can be like walking through a minefield. Potential issues might not always be apparent and one wrong move might cost you dearly.

For any large or complex insurance claim, you need an experienced insurance expert to be your guide. Someone who knows the ropes and will act in your best interests.

Avner Gat, Inc. has over 15 years of experience as a public adjuster in Southern California. We understand the ins and outs of managing commercial insurance claims.

Call us at (818) 917-5256 and let’s discuss how we can assist your business.