Why You Need a Public Adjuster w/Andy Gurczak

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Episode Description

Welcome to the Freedom Point Real Estate podcast! In today's episode, Jeremy Dyer interviews Andy Gurczak about the role of a public adjuster, typical clients and claims, and rising insurance costs.

Andy Gurczak is the Founder and CEO of AllCity Adjusting, a public adjusting company that works directly with the insured to ensure fair insurance payouts. With over 10 years of experience, Andy has led the company through exponential growth, managing multiple multi-million dollar property claims in both commercial and residential sectors. In addition to his expertise in public adjusting, Andy specializes in property investment, owning multiple locations across the Midwest. Combining his knowledge of sales, construction, and real estate, he runs one of the most efficient public adjusting firms in the nation.

CONNECT WITH ANDY GURCZAK!

Website: https://allcityadjusting.com/

LinkedIn: https://www.linkedin.com/in/andy-gurczak-528b9b64/

CONNECT WITH JEREMY DYER!

Website: https://startingpointcapital.com/

Instagram: https://www.instagram.com/startingpointcapital/

LinkedIn: https://www.linkedin.com/in/jeremydyer

Facebook: https://www.facebook.com/startingpointcapital

Book a Call! https://calendly.com/startingpointcapital/discuss-investing-with-jeremy-dyer?month=2023-12

Summary

Tip #1: Review Policies and Endorsements Before Purchasing

"We always recommend reviewing policies and looking for any hidden exclusions or limitations."
It's essential to review your insurance policy before purchasing or renewing to ensure that you have the right coverage for your needs. Many people don't realize the importance of understanding the full extent of their insurance and potential exclusions. Public adjusters can help navigate these policies to avoid surprises down the road, preventing you from being underinsured in the event of a disaster.

Tip #2: The Power of Proper Coverage and Endorsements

"The right endorsements and coverage can change everything for the insured."
Having the right coverage in place before a disaster strikes is crucial. A well-structured policy can significantly increase the amount you can recover after a claim. Public adjusters often help insureds identify gaps in coverage and suggest beneficial endorsements, ultimately recovering more for their clients than initially offered by the insurance company.

Tip #3: Overcoming Misconceptions About Public Adjusters

"We’ve built trust through relationships and proven results, not through door knocking or shady tactics."
Public adjusters are often unfairly labeled as "storm chasers" or "ambulance chasers." However, the best adjusters build a strong reputation through positive relationships and a proven track record, not aggressive solicitation. By educating the public and demonstrating their value through results, trusted public adjusters can separate themselves from the negative stereotypes in the industry.

Tip #4: Providing Emotional Support During Crisis

"We try to educate and give clients options while understanding their emotional needs."
Insurance claims often come during traumatic times such as after a fire or natural disaster. Public adjusters not only help with the technicalities of a claim but also offer emotional support, understanding that clients need compassion during stressful times. This balance of professionalism and empathy helps build trust with clients, making the process smoother for everyone involved.

Tip #5: The Importance of Mentorship in Career Development

"Mentors don’t just appear; you have to actively seek them out."
Mentorship is a critical element of personal and professional growth, especially in industries like public adjusting. Andy highlights how his own career was shaped by mentors who provided guidance, even if it meant persistent effort to gain their attention. Seeking out mentors can help guide your development, but it requires initiative and resilience to forge those relationships.

Tip #6: Leading by Example and Fostering Independence

"We don’t micromanage anyone here. We give a task, we expect you to do it and do it right."
Andy emphasizes that a good leader leads by example and encourages independence within the team. He avoids micromanaging, trusting that his team members are capable of performing tasks on their own. This empowers employees to take ownership of their work and fosters a culture of accountability within the company.

Tip #7: Understanding the Impact of Rising Insurance Premiums

"Insurance rates are finally starting to drop, but premiums have been rising due to property values and rebuilding costs."
The rising cost of insurance premiums is a significant challenge for many property owners, particularly in areas prone to natural disasters. Factors like inflation, increased property values, and rebuilding costs all play a role in driving up insurance premiums. While premiums are starting to stabilize, understanding these dynamics can help businesses and property owners plan ahead.

Tip #8: Navigating a Competitive Insurance Market

"We don’t just deal with the claims, we build partnerships with our clients to ensure their success."
In public adjusting, relationships are key. Building strong, long-lasting partnerships with clients and contractors allows public adjusters to not only help with claims but also ensure overall success in recovery. A good public adjuster connects clients with the right contractors, facilitating smooth repairs and increasing claim settlement values.

Tip #9: Be Transparent and Share Knowledge

"In a competitive market, new companies could lower premiums and provide more options for insureds."
As the insurance market becomes more competitive, new companies may emerge, offering lower premiums and additional coverage options. This is a welcome change for many insureds who have faced rising premiums in recent years. Public adjusters play a critical role in helping clients understand these new options and navigating a shifting insurance landscape to secure the best deal.

Tip #10: Continuous Learning and Education for Career Success

"Learning from different sources, whether it’s through books or a mentor, is vital for career progression."
Success doesn't just come from hands-on experience—it also requires continuous learning. Andy credits his mentors, books, and podcasts as key resources in his professional development. Whether it's gaining knowledge from a mentor or staying up to date on industry trends, constant education is crucial for long-term success in any field.