Insurance, for the most part, is a necessary evil that plays an important part in our financial liabilities. The vast majority of consumers know why it is important to carry several insurance policies for their home and family. What most are unaware of is the important role adjusters can play in a settlement.
When an insurance policyholder files a claim, an adjuster will be brought in to verify that the coverage applies to the insurance policy, investigate liability for any damages and make restitution to the policyholder. In most cases, an insurance company will appoint a staff adjuster to the case and the policyholder will be offered a settlement based on the staff adjuster’s findings and recommendations. All too often, a policyholder will accept the settlement without dispute and feel they have been given the best deal possible. To understand why this is type of thinking can possibly cost a policyholder significant amounts of money owed to them, you must understand a few basic principles about insurance adjusters.
To begin with, there are three type of insurance adjusters:
A public adjuster is an an advocate for the policyholder in appraising and negotiating an insurance claim. Public Adjusters exist because of the a conflict of interest that arises when one person attempts to represent both sides of a settlement. Public adjusters are the only type of claims adjuster that can legally represent the rights of a policyholder during the claim process.
It is always a wise idea to let public adjuster review your claim even after you have settled with your insurer because most of the time a public adjuster can request that the claim be reopened to negotiation for more money if discrepancy is found.
The majority of policyholders are unaware that Public Adjusters even exist as an option to dealing directly with the insurance company representatives. A professional, conscientious public adjuster can make a tremendous difference in the amount of a policyholder’s settlement.
If you’re a policyholder and have filed a claim, don’t let your insurance company walk away with money they owe you. Make sure to consult a public adjuster before taking any offer.
I am a License and Bonded Public Adjuster in Pennsylvania, New Jersey and Maryland. My mission is to walk you down the path to the American Dream of homeownership and much more...