The purpose of an insurance adjuster is to get the maximum settlement from the insurance company and to minimize the amount of loss that is required to pay the insurance company. An adjuster will be involved in as many as 50 to 70 percent of all insurance claims filed in the United States.
It is a common misconception that all insurance claims are handled by an adjuster. In reality, most of the claims filed are handled by a manager or a manager’s employee. An insurance adjuster may be present at the initial review and settlement of a claim. If an adjuster does not participate in the initial decision of whether or not a claim is factual or not covered by the insurance policy, it means the claim is not resolved according to the terms of the policy.
An adjuster’s role is to get the maximum settlement from the insurance company and minimize the amount of loss that is required to pay the insurance company. In general, an adjuster will work through the loss settlement process one step at a time.
An insurance adjuster will usually gather documentation and details of the loss and present it to the insurance company’s loss settlement process. After the loss settlement process is complete, the insurance company will send a settlement check to the policyholders. An adjuster may also include an attorney fee, accounting, and fees if the policyholders agree to it.
The goal of an adjuster is to get the maximum possible settlement from the insurance company and minimize the amount of loss that is required to pay the insurance company. An insurance company may have a policy providing coverage for the loss of property, personal property, or even for the property of an employee. A policy may have special provisions or limits or a limit that is higher than normal because of the type of property damaged or lost. An insurance company may have limits for specific items or categories of items. An insurance company will often use two methods of assessing a policy’s limits or cost. An insurance company may add a fee for the use of an attorney or may assess the maximum amount and give a check for the loss. An insurance company may choose the former or may assess the maximum amount as a separate check for the loss.
The insurance company will keep a log of the loss settlement and public adjusters may ask an insurance company for copies of those logs if they are made in a timely fashion. When the insurance company sends the settlement checks to policyholders, the insurance company will make sure to send the insurance company’s records and log of the settlement along with the check. An insurance company may include attorney fee, accounting, and fees, if applicable.
A standard policy contains certain types of expenses that an adjuster may receive. An insurance company may require that the policyholder pay for other costs associated with a loss or damage to property. A policyholder may be required to pay for a loss of items associated with their employment or living expenses. An insurance company may impose a fee for a loss of the vehicle’s transportation to a location. An insurance company may add a fee for an insurance claim. A policyholder may be required to pay for the costs of a house or house contents that they are responsible for or that were damaged.