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Most policyholders do not have the in-house capability to  investigate, evaluate, and negotiate significant property insurance  losses. While some losses, such as a small fire loss requiring only  minor repairs, may be dealt with easily, others, which involve more  complex damages and different potential causes of loss, are much harder  to assess. Resolving them may require expertise in understanding the  scope of coverage provided by the applicable property insurance policy,  scientific or other specialized background to determine the cause of a  specific loss, the ability to determine the cost to repair or replace  the damaged property, and the calculation of the amount of a time  element (business interruption) loss.

In  such cases, the policyholder may engage a public insurance adjuster  (PA). PA\\u2019s are licensed by almost every state and their contract forms  must be approved by the state. All PAs claim to be experts on property  loss adjustment; most are. They represent only policyholders in  fulfilling the duty to prepare, file, and adjust insurance claims. The  PA should handle every detail of the claim, working closely with the  policyholder and the insurer to obtain a prompt and reasonable  settlement.

PAs usually charge a contingency fee, which they present to the insured as a fait accompli.  But this fee is negotiable. The insured should try to lower it as much  as possible. For a major loss, more than one PA will arrive at the site  seeking a contract. A fee quoted by one can be reduced by seeking lower  fees from the others. Rates can be negotiated from a low of 3% to a high  of 40%, although the average charge is 10% to 15%. When considering a  PA, the insured must take into account the fact that even if the insurer  pays the full amount of the loss, the cost of the adjuster\\u2019s fee may  not leave enough funds to fully repair the damaged structure.

Upon being retained, the professional PA should:

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1. immediately inspect the loss site;
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2. analyze damages;
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3. assemble the necessary support for the claim;
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4. review the coverage to determine the portions of the loss which are covered;
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5. assess the value of the loss; and
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6. negotiate with the insurance company to reach the end result.
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