Private/Public Adjusters
In the event of a loss, your insurance company will most likely send an adjuster to evaluate the condition of your laundry.
Sometimes a laundry owner will choose to hire his or her own adjuster in addition to the one provided by the insurance company. The following are common statements made about these secondary adjusters:
- They keep the insurance company honest.
- They can get you more money from the insurance company.
- The insurance company will have to pay a higher claim amount.
All adjusters are paid professionals. What is the difference between the two? The insurance company pays for the adjusters they use and you hire (and pay for) the one you use. Both adjusters can be from the same group of independent professionals that are utilized by your insurance company.
When the insurance company provides an adjuster, they do not pay for you to hire your own. After all, they are already paying for one adjuster. If you hire an adjuster, you must work with both adjusters.
Adjusters that you hire are generally paid by a contract that gives them a percentage of the claim recovery money. (Keep in mind that insurance never pays more than your policy limits and they only pay what is needed to restore your laundry to the condition it was before the claim. The insurance company will not pay anything more for the claim.)
If you have to pay a percentage of the claim settlement to a secondary adjuster, you will be doing so out of pocket. Oftentimes, this means that you must use your own money to bring the business back to its pre-loss condition.
Hiring your own adjuster is your choice, but I simply want you to be aware that doing so is at a personal expense.
My suggestion is to utilize the adjuster that your insurance company provides, and if you have questions or concerns, contact your agent for an explanation of the coverage. Let the agent get involved, if needed.
About Ruby
Ruby Burch is the executive coordinator for CLA Insurance. For additional information about property/liability coverage or other laundry insurance needs, she can be reached at (800) 346-8424 or via e-mail at clainfo@coinlaundryinsurance.com.
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