How a public adjuster works

Since an accident happens so rarely, there is considerable confusion about what a public adjuster does to maximize the amount of money a policyholder will get from the insurance company. Typically the role boils down to a simple negotiation; both the public adjuster and the insurance company understand the terms of the policy, so deciding on the exact amount to pay out is the job of both of the adjusters, whether private or public.

To do this, the public adjuster usually follows a specific set of steps designed to give the homeowner or business owner the maximum amount of money from the company they can.

Meet With the Owner.

The initial meeting is one of the most important meetings with the home or business owner. Understanding what exactly happened and how it happened is paramount to the success of the process. Especially with an insurance claim that has been denied or underpaid, knowing and understanding what it will take to overcome this obstacle is critical to the success of your claim. If necessary, the public adjuster may also ask the property owner to sign paperwork allowing them to negotiate on the owner’s behalf.

Conduct a Policy Investigation

After a thorough review of the policy provisions and stipulations covered by insurance, the adjuster will then determine the limits and exclusions of the terms to figure out how much is possible to get back; this can vary from state to state and differ even greater between policies. The adjuster will also examine local and state laws in addition to decisions handed down from the state insurance office and any other court cases that may determine how policies and practices work in actuality.

Obtain Documentation

The adjuster will then gather as much information from the home or business owner as possible, such as building history, inventory documentation, as well as pictures or files representing the actual loss that occurred. If the property is a commercial entity, the adjuster will also analyze business-interruption coverage as well, which may include revenue projections and forecasts of what that business will lose during the time that it is not operational. The job of the adjuster is to determine – whether residential or commercial properties – how much of the owner’s everyday life has been interrupted by the loss.

Present to the Insurance Company

After the policy has been examined and the applicable information has been collected, the adjuster will then discuss with the property owner their findings and present the case as they see it. The claim will thenb be submitted or resubmitted to the insurance company for revirew.

Negotiation

The insurance companies will most likely request clarification from the adjuster on items, which will necessitate a longer timeline. Once the information has been collected and submitted, the negotiations will begin, as the claim evolves the property owner will be inform of the progress. Once a claim has been settled, the information is presented back to the owner and money is delivered.