If you are self-employed in Ontario, it is important that you understand the role of the public adjuster. A public adjuster is an insurance adjuster who has extensive experience dealing with insurance claims made by self-employed individuals. The purpose of the adjuster is to assist the individual in making their benefits claims and to ensure that they receive all of the benefits that they are entitled to. It is important that the public adjuster is licensed in Ontario, as well as a member of the Insurance Exchange of Ontario. The Insurance Exchange is a not for profit organization, whose goal is to assure that all insurance carriers meet high-quality standards. The insurance carrier must submit its list of requirements to the Ontario Department of Financial Services, including its financial records.
As an individual self employed in Ontario, there are certain advantages to hiring a professional public adjuster. First, you are more likely to receive your benefits from the company that you need to cover your claims; and second, the policyholder is less likely to feel trapped at the hands of the adjuster. This is because they do not have a large down payment or other collateral with which to make their initial claim. When you hire a professional, the adjuster will collect a monthly fee for handling your case.
Another advantage of using a National Fire Adjustment public insurance adjuster is that they will be familiar with the technical aspects of many insurance policies and the requirements which apply to them. For instance, when filing a workers’ compensation claim, the employee is required to attach medical records that support their position as being injured while at work. Without these records, the claim may be denied. Therefore, the public insurance adjuster will know how to obtain the needed documentation to support the claim. If you have a current workers’ compensation policy, you may wish to review it with your agent so that you can add these new benefits to your plan.
It’s important to remember that there is a fee associated with this service. The company does not require any sort of upfront fee for hiring a public adjuster, but it is recommended that you pay at least some money if you plan on getting your desired settlement. Some people believe that paying a small fee up front will encourage the company to settle the claim quickly, but the truth is that the majority of insurers actually prefer to process the claim and make the necessary repairs prior to settling the claim. In fact, most companies actually prefer to take the time to investigate the claim and settle before they even begin paying benefits.
The final benefit of hiring a Ontario claims adjuster is that your agent will be familiar with what to do when a lower than expected settlement occurs. When this occurs, many individuals try to recoup as much of their loss as possible without actually pursuing collection efforts on their own. This can be detrimental to you in the long run because it means that you may not receive as much of your claim value as you would have otherwise. You never want to spend more on legal representation than you absolutely need to.
These are just a few of the main benefits of hiring an Ontario public adjuster. If you live in Ontario, contact an insurance company and let them know that you are interested in hiring an adjuster. They will assist you in filling out the appropriate forms, collecting the necessary information, and contacting qualified claims representatives. Most insurance policies have specific guidelines for who is eligible for benefits and who is not eligible. By following the guidelines, you’ll have a much better chance of receiving all of the benefits that are available to you. In most cases, these benefits will be equal to or more than the replacement of your lost income.
National Fire Adjustment Co.
1100 S Service Rd #222,
Stoney Creek, ON L8E 0C5
+1-800-790-2622
nfaco.ca
