What You Need To Know About Insurance Adjusting

Policy Holders

1. When disaster strikes, policyholders may have many questions and concerns. If the disaster is large-scale, an insurance agent or company may be overwhelmed with phone calls, emails, and customer chat requests asking for answers. Any decent insurance agent will first have to read the policy document and get back to their customers with accurate answers. This is crucial because no insurance agent wants to be at odds with the insurer just because they added their own opinion to the answers they gave policyholders. To minimize risk, insurance agents should consult a public adjuster because they will act as the intermediary between them and the insurer.

2. Policyholders who have experienced any loss can be very upset and emotional. The first person customers will call to complain about their loss is you. It’s important to note that your customers will need immediate assistance and financial resources. For instance, they will need temporary housing and emergency services. They’ll also need assistance filing and processing their claim. Many customers will ask for a copy of their policy document with all the details about their coverage. This is an important insurance adjusting procedure that can be handled by an insurance adjuster.

Working With a Adjusting Company

3. Working with a public adjusting company is crucial because when policyholders experience a disaster, you do not want them to be mad at you. At the same time, you do not want to disappoint the insurer, so you should let the public adjuster take over the claims process once a disaster has been reported. Since working with multiple insurance adjusters can be time-consuming, cumbersome, and even infuriating, insurance agents should only choose a single insurance adjuster for their clients. Insurance agents should remain neutral to ensure they do not upset insurers or customers. The main reason to hire a public insurance adjuster is to advocate for the policyholder.

4. According to our experience in insurance adjusting losses from large-scale disasters, we have found that many policyholders are under-insured. This can be blamed on the fact that many consumers usually look for the cheapest insurance policies. Unfortunately, what they end up with is a policy that offers insufficient coverage. When consumers are informed that their insurance coverage is insufficient, the first person they usually blame is their insurance agent. Fortunately, the best public adjusters can identify additional coverage in a policy document. I always advise consumers to sit down with their insurance agent to learn more about an insurance policy, inclusion clauses, and exclusion clauses before making a purchase. A great public adjuster will look at a policy document to identify additional coverage within the policy to mitigate the effect of an underinsured situation.

5. It is normal for the policyholder and the insurance adjuster to have different views on a variety of issues during the claims process. The insurance adjuster will relieve some of the pressure from the insurance agent by answering questions from the policyholder. In addition to that, the insurance adjuster will come up with an accurate valuation of losses independent of the insurance agent’s estimate of losses. The main goal of the adjuster is to pursue all the coverage the policyholder is entitled to under their policy. According to our experience, our goals may not be the same as those of the insurance agent. A public adjuster can work with an insurance agent as well as the insurance company and can be a strong advocate for the policyholder. The public adjuster will work expeditiously to ensure the claim is resolved quickly and to the satisfaction of all the parties.

6. Please note that a company adjuster and an independent adjuster work for the insurer. This means that they do not have the interests of the policyholder at heart. The only adjuster who represents the interests of the policyholder is a public insurance adjuster, so insurance agents should help their clients choose the right public adjusters. Policyholders who fail to engage the services of a professional public adjuster will find themselves without representation. Consequently, they will have to rely on the insurance agent for representation. Unfortunately, insurance agents do not always have the interests of the client at heart.

The best way for insurance agents to take care of their clients is to help them pick the right insurance adjuster who has a lot of experience in the insurance claims business and adheres to the professional code of ethics.

Guide to Choosing a Public Adjuster

– The ideal Tampa public adjuster should have a valid license to operate in the state where the loss has occurred

– They should be a member of the NAPIA (National Association of Public Insurance Adjusters)

– They should have a lot of experience with a wide range of disasters and must have worked with a lot of insurance companies across the country

– They should know local contractors, building codes, remediation and repair costs, etc.

– They must have a professional working relationship with your insurance company and must be aware of its claims handling policies, processes, and top adjusters

– They should have a lot of references: the best adjusters usually have many references, so be sure to watch out for this.