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.
An insurance claims adjuster examines and evaluates claims to assess what the insurance company is liable for. Insurance adjusters use many means to analyze a claim including questioning witnesses, looking up and examining records, and investigating property damage whether it is a automobile, residential home, or business office. A claims adjuster is licensed and trained to deal with accidents assessment that an insurance holder may not know how to process.
There are three independent types of claims adjusters: an adjuster employed by an insurance company, an independent appraiser who works separately, and a public adjuster who represents the insured property owner. Since the public adjuster works for the policy holder, there cannot be any conflict of interest between the insurance company. Two types of claims are property cases involving buildings such as homes and offices and liability claims that are based on personal injuries. The second type includes everything from automobile and car accidents to negligent actions.
If you have been in a car accident or have had damage to your personal property, consider hiring an insurance adjuster to help file your claim. Do some research as to how an adjuster can minimize or maximize a consumer's case. Check into nationwide firms to see what type of job services their adjusters offer at what rates. Having personal damage done to your property can be a very taxing experience. Having someone on your side to help get the most coverage to cover damage costs can be both reassuring and wise.