Hello and welcome to Las Vegas Public Adjuster information page!
Las Vegas, often known as Sin City or simply Vegas, is the most populous city in the U.S. The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert, and second largest in the Southwestern United States.
In addition to the Vegas casinos and nightlife, Las Vegas is continually adding attractions such as the new 2.3-billion-dollar Sphere, Allegiant Stadium where the Las Vegas Raiders play, the F-1 and most recently the Superbowl. T-Mobile Arena is home to the Vegas Golden Knights hockey team. The Oakland Athletics are on a tight schedule to get agreements in place and demonstrate that financing is set for construction to begin on time for the team’s new stadium in Las Vegas. The A’s hope to open the approximately $1.5 billion, 33,000-seat ballpark for the 2028 season. The Vegas landscape is ever changing with the demolition of the Tropicana and the Mirage, which were two staple Casinos for years in Vegas.
The insurance claim adjuster profession in general can be traced back to the early days of commerce when merchants would hire people to evaluate the damage done to their goods during transport. This process eventually led to the development of the modern insurance claim adjuster role, typically referred to as an “independent adjuster.” The first documented public insurance adjuster was Samuel Milch in 1895, evidenced by the oldest case in Westlaw (Milch v Westchester Fire Insurance Company). This case involved an insurance company refusing to honor Milch’s assignment of policy proceeds (now commonly known as an assignment of benefits), which many states are now taking away.
Public adjusting is a relatively new profession in the United States. As insurance carriers became greedier, homeowners and business owners found themselves fighting with the insurance company to fully compensate them for their losses. Luckily there are many advocates in the public adjuster industry to fight against some states who want to get rid of public adjusters.
NAPIA (National Association of Public Insurance Adjusters) and United Policyholders (UP) have a long history of being staunch advocates for the rights of public adjusters and insureds. Some politicians may be in the “pockets” of big insurance carriers. Insurance carriers now approach claims with tactics to delay a claim, deny a claim, and then ultimately end up defending the claim once a public adjuster and/or lawyer becomes involved.
A public adjuster is an expert on property loss adjustments who can be retained by policyholders to assist in preparing, filing, and adjusting their insurance claim. A Public Insurance Adjuster is employed exclusively by a policyholder who has sustained an insurance loss. They are professionals that will manage every detail of the claim and work closely with the insured to provide the most prompt and equitable settlement. Public adjusters inspect the loss site, as soon as possible, analyze the damages, obtain supporting documentation, reviews the insured’s policy to determine coverages and current replacement costs. Public adjusters serve the client, not the insurance company.
- You need to file a large claim for high-value, significant or complex damage to your home or commercial building, like a fire.
- You are not confident with the assessment performed by your insurer’s adjuster.
- You feel your insurer’s adjuster underestimated your claim or that your payout is not fair.
- You need assistance with a complex claim or the claims process.
- You may face tricky questions like: “How much of the water damage was due to rain coming in through the torn-up roof and how much was due to flooding”? The water damage related to the roof would fall under your homeowner’s windstorm portion of the policy. The flood would fall under a flood insurance policy if you have one.
PROS:
- They may be able to get you a larger settlement. One of the main advantages of hiring a public adjuster is to have an experienced professional negotiating on your behalf. Just as lawyers and accountants are hired for their knowledge and experience in their respective fields, a public adjuster is hired because of their training and experience in handling complex commercial and residential insurance claims. They can review your policy to ensure you have the correct coverages on your policy.
- They can save you time. When filing a large insurance claim, it requires significant time and energy to fill out forms, communicate with the insurer, providing them with detailed information regarding the loss.
- An experienced public adjuster can guide you through the claims process. Insurance policies are full of details and legal analogy, which can make it difficult for the average person to follow. A public adjuster can help you better understand your coverage and how the claims process will work.
- An experienced public adjuster can help you dispute a settlement. If you initially filed your own claim and you are not happy with the insurer’s settlement offer, you can hire a public adjuster to review the claim and possibly negotiate for a higher payout.
- Ignorance of the insurance industry’s increased focus on profits at the expense of the claimant is one of the biggest problems insured’s face. Not knowing any better, a consumer will often accept the initial offer from the insurance company or accept a denial of coverage as just fact. The alternative is to hire an experienced public adjuster.
CONS:
- A public insurance adjuster may not be suitable for every claim. It may be better on small, straightforward claims that you file your own claim, which saves you the public adjuster’s fee. (Often, some public adjusters won’t even work on certain claims if the potential payoff is too low).
- Even the best public adjusters that are knowledgeable and good at what they do, are not miracle workers. A public adjuster can’t get you more money from the insurer than your policy entitles you to receive.
- Their fee will reduce your payout. A public adjusters fees can be anywhere from 12% to 20% of the total settlement. However, in some cases you might pay a flat or hourly fee. Some states cap the fees, however, currently Nevada does not have a fee cap. Somes states do not even allow public adjusters or limit the type of claims they can work on.
- Not all public adjusters are legitimate. In times of disasters, the scam artists (unqualified people posing as public adjusters) may take advantage of vulnerable people. This is also true for construction companies, roofing companies, etc. Remember, they are not licensed public adjusters and do not know how to read and interpret your insurance policy.
- Get referrals from other people you know who may have used a public adjuster in the past. You can also find adjusters in your area through the National Association of Public Insurance Adjusters (NAPIA).
- Public Adjusters who are qualified through IICRC in water damage, fire restoration, odor control, health and safety, OSHA, etc., are committed to continuing their education, which allows them to be more beneficial when helping insureds.
- Verify the adjuster is licensed in your state. Many state insurance departments, which regulate public adjusters, let you verify a license online.
- Ask the public adjuster for references – getting three is always good.
- Read the contract and understand the fees before hiring a public adjuster.
- Stay away from anyone who comes to your door unsolicited, demands an upfront fee or pressures you to sign a contract.
- A public adjuster only has to take a 40 hour class and pass a test to obtain their license. That DOES NOT mean they have the expertise and experience to adequately handle a complex claim or denial.
- Make sure the public adjuster is local to Las Vegas. When you call to discuss your claim, make sure you are talking to the adjuster that would be handling your claim. Sometimes you may be simply talking to a sales rep.
- The public adjuster should be able to provide information regarding how many claims they have worked in Las Vegas and surrounding areas.
- Check Google and other company reviews for the public adjuster and read the reviews and responses from the owner.
- Property/Casualty, Walls In, Walls Out, All In.
- Typically, the majority of HOA’s carry Property/Casualty insurance coverage, which only covers the unit to be put back to its original state when it was built (builder specification). However, some policies may include improvements and betterments which would cover any improvements/betterments done to the unit prior to the loss.
- A Walls In policy, is essentially how it states – coverage is afforded for the framing, insulation, drywall and ceiling, cabinetry as well as flooring. Depending on the HOA, there may also be coverage afforded for improvements and betterments with a Walls In policy.
- A Walls Out policy typically covers studs-out, including the roof, possibly the windows, fencing and common elements of the HOA such as a playground.
- If you own a condominium you should speak with your agent to obtain which is referred to as an HO6 (Condo) policy.
- An All In policy is the most comprehensive of the three policy types. It will cover structure, shared property, built-in fixtures in individual units as well as individual unit improvements and additions. In some instances, it may even cover contents, but typically, an HO6 policy will provide coverage for personal contents.
- Nevada is a state where the law dictates how an insurance claim is handled. Nevada Revised Statute 116.3113 provides the law on how an HOA must handle a claim. As an owner of a condominium within an HOA, you are automatically considered an additionally named insured under the HOA’s policy, which entitles you to a copy of the HOA’s insurance policy. However, the CC&R’s determine the type of policy in which the HOA is required to carry. CC&R’s represents, Covenants, Conditions and Restrictions, which are a set of rules governing the use of a certain piece of real estate in a given community.
- If you sustain a loss in your unit, you should notify the community manager immediately. If the community manager does not file a claim with the HOA’s policy, you, as an additionally named insured, may place a claim with the HOA’s carrier yourself.
- If the claim does not exceed the deductible for the HOA’s policy (which includes all units affected, mitigation and rebuild of those units), then you will need to place a claim with your condo policy carrier.
- Some HOA’s may have different deductibles. For instance, an HOA may carry a higher deductible for water damage, than a fire. The only time the HOA is not required to file a claim is if the total damages do not exceed the HOA’s policy deductible.
- Typically, when an HOA loss occurs, the HOA’s policy deductible is assessed to the unit where the loss occurred, however, one should check their CC&R’s for confirmation. If the unit owner has an HO6 policy you should make certain it covers loss assessment in the event your unit is where the loss happened.
- Once an insurance claim has been filed by the HOA, and coverage is afforded, the HOA’s property management company will receive payment for the estimated damages and is responsible for paying the vendors, such as mitigation companies, contractors, etc.
- Typically, the HOA will hire the mitigation company and the construction company, and coordinate with you to make the necessary repairs to your unit.
- The HOA policy does not cover additional living expenses (ALE), however, your condo policy should provide that type of coverage if your home is not habitable.
- The Nevada Administrative Codes (NAC) governs how the HOA’s community managers should handle payments for the claim.
- Should the HOA’s community management company not handle the claim properly, you can contact the Ombudsman for Clark County (or the county where you live) for assistance. As a last resort, you can also report the community management company to the Real Estate Board and file a complaint for improper handling of the claim.
- Water: Many claims are sudden and accident water claims. This could be because of a failed supply line, water heater failure, reverse osmosis system failure, HVAC condensate line, roof leak, toilet/sink/tub overflow, sewer soft clog overflow, and other sudden plumbing failures.
- Fire: The worst type of claim is a fire. Fires can happen at any time, day or night, turning your life upside down. Fires range from a simple grease fire in the kitchen to an electrical fire. No matter what the reason is it is always devastating. All your personal possessions may be ruined along with treasured memories. There is also the possibility of loss of life (both human and a beloved pet). Hiring an experienced public adjuster certified in fire restoration is imperative.
- Wind: In Vegas, wind can abruptly turn from an average breeze to strong gusts with little warning. During the cold season, storm systems from the Pacific bring precipitation and gusty winds. High pressure over the Pacific Ocean and low pressure over Las Vegas creates a pressure gradient similar to a wind tunnel. March and June are usually the windiest months in Las Vegas. These gusts can contribute to power outages and damage to property.
- Theft: In Las Vegas we have an issue with criminals, squatters, and vagrants. Many times, squatters will break into a vacant home and begin living inside the home. It is often times very difficult to get squatters out of the home and in many occasions the homeowner will incur legal fees and expenses to get them out of the home. Burglaries often take place during the daytime hours with only 34% taking place at night according to a 2019 FBI crime report. Should you experience a burglary, immediately contact the police, and file a report. You will also want to make certain to get a copy of the report, when available. This is critical for insurance claims. It is important to have video cameras, such as Ring style doorbell camera, and outside security cameras, if possible. Having a list of belongings, you have in your home will help you identify what is missing. Pictures of expensive items is important to documenting your loss.
- Vandalism: It is unfortunate, but vandalism is a common occurrence, for business owners and homeowners. No matter the extent or severity, vandalism is a crime, however, that does not stop criminals from damaging properties. A big problem throughout Las Vegas is disgruntled tenants. Often, they will leave your property with broken windows, holes in the drywall, broken cabinets and even graffiti. When a tenant does not have the intent to restore your property to its original condition when they rented it, this is considered a form of Vandalism. Insurance carriers are not specific regarding vandalism in their policies and therefore leaves vandalism coverage up for interpretation. When left to interpretation the argument can be made that the insured should be covered for the damages because there is no specific language to state otherwise.
LAS VEGAS RESIDENTIAL CLAIMS
Homeowners insurance protects your financial interests if your home is damaged by a covered peril. A peril is something that may cause damage, loss or destruction to your home. The types of losses you may experience include water damage, fire, roof leaks, sewer clogs, wind, theft and vandalism. There is a different type of loss considered a catastrophic loss. A catastrophic loss is from things like hurricanes, tornadoes, and earthquakes. Luckily, Las Vegas does not have many “catastrophic claims”.
Insurance policies will differ with each carrier and the coverages selected. It is important as a homeowner to know what coverages you have and what coverages you need. For example, if your home is older than 1983 you should consider having coverage called law and ordinance or building code coverage. If you have expensive items, you need special “riders” (endorsements) that are specific to those items which need to include appraisal values and images.
As soon as you experience a loss in your home, there are several steps you need to take, depending on the type of loss. Every residential policy has a provision
When insurance checks begin to be disbursed, they will be made out to the insured and the public adjuster (if one is involved). The check will also include your mortgage company. What this means is that you will have to obtain the guidelines from your mortgage company regarding an insurance loss and send them the check per their instructions. You will get this information from the Loss Draft Department of the mortgage company. This will take additional time in receiving your money and can be frustrating. Staying on top of the mortgage company and cooperating with them is important.
The mortgage company guidelines will determine if your claim amount is large enough to make it a “monitored” claim. A monitored claim is where the mortgage company puts the insurance funds in an escrow account and disburses funds based on the percentage of completion. An initial amount will be distributed and then the mortgage company may require periodic inspections to determine the percentage of completion before releasing additional funds.
There are many public adjusters that serve Las Vegas. Some are local and some are national firms. Typically, you would want to deal with a local public adjuster. The large national firms usually only take claims over $250,000. They have many resources at their disposal. However, you run the risk of just becoming another “number” and your claim not getting the attention it deserves. Ideally you want to start with one public adjuster and stay with that public adjuster until the end of your claim. Some of the firms we know personally are
- PGS Adjusters (habla espanol)
- www.pgsadjusters.com
- 888-486-6332
- Google Page
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