Recent Results:
State: Florida Public Insurance Adjuster
County: Miami-Dade County Public Insurance Adjuster
City: Key Biscayne Public Insurance Adjuster
Key Biscayne FL 33149 – Neighborhood: Palmwood Ln/Allendale Rd
Claim Type: Roof Leak -Water Damage
Insurance Company Original Offer: $4,200
Alpha Public Insurance Adjusters Settlement: $51,000 ( New Roof)
Percentage Increase: +1000%
State: Florida Public Insurance Adjuster
County: Miami-Dade County Public Insurance Adjuster
City: Key Biscayne Public Insurance Adjuster
Key Biscayne FL 33149 – Neighborhood: Mashta Island
Claim Type: Shower Pan – Water Damage
Insurance Company Original Offer: $1,600
Alpha Public Insurance Adjusters Settlement: $23,500
Percentage Increase: +1300%
State: Florida Public Insurance Adjuster
County: Miami-Dade County Public Insurance Adjuster
City: Key Biscayne Public Insurance Adjuster
Key Biscayne FL 33149 – Neighborhood: Cape Florida Drive
Claim Type: Washing machine overflow – Water Damage
Insurance Company Original Offer: $14,000
Alpha Public Insurance Adjusters Settlement: $71,000
Percentage Increase: +400%
State: Florida Public Insurance Adjuster
County: Miami-Dade County Public Insurance Adjuster
City: Key Biscayne Public Insurance Adjuster
Key Biscayne FL 33149 – Neighborhood: Harbor Drive
Claim Type: Wind/Water – Roof Leak
Insurance Company Original Offer: $32,000
Alpha Public Insurance Adjusters Settlement: $174,000 ( New Roof)
Percentage Increase: +440%
Here’s Why Insurance Companies Offer the Lowest Settlement
You pay a hefty premium for your home insurance, which seems to get higher every year. According to S&P data, home insurance companies have been allowed to increase their rates by 4.48% in almost every state for 2022 (as if it wasn’t already high). So, why do insurance companies offer such low settlements? Let’s look at the reasons, so you better under the “nature of the beast.” Additionally, we will share a few reasons why it’s in your best interest to hire a public adjuster in Key Biscayne, FL.
The Number One Reason is Financial
You may not be surprised that the primary reason insurers offer the lowest settlement is to protect their financial bottom line. This is a for-profit company, and it will do everything it can to ensure its financial goals are met. This includes hiking and collecting premiums and delaying, underpaying, or denying insurance claims.
They will hire an insurance adjuster who knows all the tricks to reduce your settlement and believe us, there are many. They can:
- Close the case before you know what your property damage is worth
- Discourage you from hiring a public adjuster or lawyer
- Refuse negotiations to maximize your settlement
When the first reimbursement is offered, policyholders are usually in a sticky financial situation. Bills are adding up, which they cannot pay out-of-pocket. As a result, they look at some money being better than no money. Keep in mind that if you work with a public adjuster, you won’t ever reach this desperate situation. Public adjusters can hold insurance adjusters (and the company they work for) accountable for their wrongdoings.
They Use Algorithms That Aren’t Accurate
According to the Insurance Information Institute, approximately one in 20 insured homes file a claim each year. As a result, most insurers have more than they can handle. To cover each claim, they sometimes use algorithms to provide estimates, pulling information from claims similar to yours. Unfortunately, that doesn’t account for accuracy.
Every disaster is unique. No two kitchen fires, hurricane damages, or thefts will be exactly the same. The algorithm will not be able to factor in important considerations that a well-trained adjuster can. This can easily result in a reduced settlement. Additionally, the software is not designed to favor the policyholder, but the insurer.
They Don’t Expect You to Hire a Public Adjuster
Many policyholders are not aware that they can hire a third-party public adjuster for a second opinion. Insurers are banking on this unawareness when they offer a low settlement. On average, public adjusters can get policyholders more money than if they were to face insurers on their own.
Furthermore, these companies don’t expect you to hire a lawyer. Typically, lawyers are hired when no mutual agreement has been reached. However, if this were to go to court and the insurer is in the wrong, they know that juries tend to favor the policyholder. If the evidence is on your side, there is a strong possibility the insurer will lose. Unfortunately, few policyholders elect to hire a lawyer or public adjuster and simply take the first settlement that was offered to them.
Contact Alpha Public Insurance Adjusters
These are just a few reasons insurers will offer a low settlement, despite the high premium you pay on your homeowners’ insurance. Remember, you’re not alone. For assistance filing a claim, contact Alpha Public Insurance Adjuster or call (888) 442-5742 for a free consultation.
