What Does an Insurance Adjuster Do?
An insurance adjuster investigates insurance claims to determine the extent of an insurance company’s liability. They assess damages, review policies, and collect evidence to create an accurate report. Adjusters may work in different fields, such as auto, home, or health insurance, but their core duties remain the same.
Types of Insurance Adjusters
- Staff Adjusters – These adjusters are employed directly by the insurance company and handle claims on their behalf.
- Independent Adjusters – Independent contractors hired by insurance companies to handle claims on a temporary basis.
- Public Adjusters – Hired by policyholders to represent their interests, ensuring they receive a fair payout from the insurance company.
Each type of adjuster brings a unique approach to resolving claims, whether it’s representing the insurance company or the policyholder.
The Claims Process and How an Insurance Adjuster Fits In
The insurance adjuster is crucial in the claims process, working on behalf of either the insurer or the insured to gather facts, assess damages, and ensure the settlement is fair. Here's how the process typically works:
- Report the Claim – Once a policyholder reports a claim, the insurance adjuster is assigned to investigate the incident.
- Investigation – The adjuster examines the damage, collects evidence (photos, witness statements, repair estimates), and determines the cause.
- Claim Evaluation – Based on the investigation, the adjuster calculates the claim value, ensuring it aligns with the insurance policy.
- Settlement Offer – The adjuster provides a settlement offer, which may include the payout amount, based on the findings.
Conclusion
An insurance adjuster serves as the link between the policyholder and the insurance company, ensuring that claims are processed fairly and efficiently. Understanding their role in the claims process can make navigating insurance claims easier for both parties, helping ensure a smoother experience when the unexpected happens.