Popular Terms for Insurance Adjusters
Insurance adjusters play an important role in sorting out claims to insurance agencies. If you have been involved in a car accident, or suffered damage to your home, you will more than likely have to work with an adjuster during the processes of filing your claim. Here are 5 terms to know when you find yourself involved with one of these professionals.
Insurance Claims Adjuster - This individual evaluates auto accidents, catastrophes, fire damages, and more on behalf of the insurance agency that he or she works for. This job involves interviewing people involved in the incident, assessing car damage, or looking into the scene of the incident. This professional's findings helps determine liability as well. There are also some adjusters that can be hired by the public.
Liability Insurance - General insurance that protects he person that takes out the policy. The agency provides coverage in the case of lawsuits, personal damage, and other issues.
Premium - This is the rate that each separate agency charges for coverage. Premium prices will change depending on the policy. For instance, casualty insurance may be more expensive that a policy that covers basic home damage.
Casualty Insurance - This is like liability. It protects against vehicle damages, theft, individuals that are injured working on a home, and similar claims.
Insurance Underwriter - These professionals assess policies, and actually determine if insurance should be provided. This can range from public policies that are taken out, to private property policies. Underwriters usually handle the assembling of individual policies, working with statistics to determine potential losses to the agency.