All-Line Property Insurance Adjuster

A Property Insurance Adjuster Fort Lauderdale, specifically, is charged with the entire detailed examination of an insurance claim relating to personal property and physical damage to a building. In this role, the assessor determines the most suitable settlement with detailed records and computerized software used. The objective of a property insurance adjuster is to protect the interests of his clients and ensure that their claims are settled in a favorable and timely manner. If you are involved in a property loss claim, it is essential for you to appoint an experienced professional who can protect your interests in court and work efficiently. Below are some of the specific duties of a property insurance adjuster:

Assessing the validity of a property insurance claim. This is the initial step of the process. The property insurance adjuster is required by law to assess the value of the loss at the time of loss and to ensure that this is based on a fair and reasonable estimate. Property loss claims should be made within three years of the occurrence of loss. The value of the loss needs to be established through documentation, photographs, sketches, plans and any other kind of documentation that meet the requirements of the law.

Obtaining a certification. To be able to carry out the tasks outlined above, the property insurance adjuster must hold a state examination for this position. Each state has a procedure to follow for examination. It is in the responsibility of the owner/developer to register for the exam to receive a certificate of completion.

Reviewing commercial property claims. Commercial property claims involve many different aspects of the insured's business such as equipment, land, structures and so on. As such, property insurance adjusters are often called upon to review these various aspects to ensure that all coverage issues have been addressed. Some of these review tasks may include an inquiry about why the loss occurred, what the loss actually is and the extent of the loss. These examiners will also review and evaluate the claim to determine whether or not the loss is consistent with the company's insurance policy.

Making a determination. After the review and assessment of each commercial claim, the adjusters make a determination as to which aspect of the claim is the highest priority. They assign the claim to either a supervisor or an all-lines adjuster. The all-lines adjuster is responsible for making a final determination as to whether the loss or damage is consistent with the policy and is therefore covered by the policy.

Awarding a settlement. When the all-lines adjuster makes his or her final determination as to the extent of the loss or damage, he or she awards a settlement. To determine which portion of the settlement is for the public and which is for the owner, the agent will ask relevant questions. These questions may include but are not limited to, questions about the nature of the property, who owned it, and who carried out the work involved in the claim. The agent then makes a settlement offer to the owner based on the value of the loss.

Obtaining a state examination. In order to become a state examination candidate, you must pass the state examination. Many commercial insurance agents attend and pass the state examinations before they can apply for the all-lines public adjuster license. If you plan to change your career to commercial insurance after you receive your all-lines public adjuster license, you may want to consider taking the necessary courses to prepare for the state examinations. These examinations will help you pass your state examination and obtain your all-lines license.

All-lines adjuster license holders are entitled to certain wage benefits while working. These benefits depend on the specific covered business entity that you work for. For example, if you are employed by a building and foundation company, you are entitled to a percentage of the Claimant's award money, if you win your claim and it is greater than or equal to sixty percent of the Claimant's award. Similarly, you may also be entitled to receive an additional amount if you are assigned to manage an Assessor's sale or if you are responsible for calculating the cost of a bond. In addition, you may also be eligible to receive up to one hundred percent of the Claimant's regular compensation if you are assigned as the primary replacement agent and you successfully complete all three responsibilities. While these additional wage benefits are usually not included in the initial investment in your all-lines adjuster license, they can make a significant difference in your financial stability upon retirement.