Get Bond Of Public Insurance Adjuster

Is it worth hiring a public adjuster? ProsCons Adjusters only get paid if you do. The claims process may take longer when using a public adjuster. Public adjusters work in your best interest instead of the insurance company. May be difficult (or expensive) to find an adjuster for smaller claims.2 more rows • Oct 7, 2024

The Public Adjuster may not charge, agree to, or accept any compensation, payment, commission, fee, or other valuable consideration more than 10% of the amount of the insurance settlement claim paid by the insurer.

To cancel the contract with your public adjuster, deliver by certified mail, return receipt requested or other form of mailing which provides proof of mailing, a signed and dated copy of the cancellation notice, or any other written notice.

Types of Public Adjuster Fees Most states like Texas cap the fee at 10% of the settlement. In Florida, the fee is capped at 20% of the claim payout, but this drops to 10% for claims related to declared emergencies. This fee structure motivates public adjusters to obtain the highest possible settlement for your claim.

You have the right to cancel the contract with your public adjuster, without any penalty or obligation, within three business days from the date the contract is signed.

The contract you sign with the public adjuster is binding and can only be canceled by certified mail within 5 business days after the date the contract was signed.

The California Insurance Adjuster Bond is required by the California Department of Insurance. The bond amount is set at $2,000. It states that the bondholder shall faithfully and honestly conduct their business. It protects the public from fraudulent insurance adjuster practices.