What Is a Property Insurance Adjuster?

A Property Insurance Adjuster Fort Lauderdale is legally empowered to investigate and verify claims related to damage to personal property as well as physical structures and building. In this role, he/she determines the most suitable resolution with highly detailed data and tools. The adjuster is also responsible for determining the amount of compensation to be paid to the party suffering from loss. This is done after the completion of his inspection and investigation.

The role of property insurance adjuster is vital in helping the client to get a fair settlement from his/her insurance company. This is crucial in order to prevent further losses. It is true that there are numerous factors that determine the insurance claim's final value. Therefore, insurance companies employ their best representatives to help them determine the final value of a particular claim. In turn, it is up to the property insurance adjuster to investigate thoroughly each claim presented and carefully analyze all relevant information to provide a client with a cost effective compensation decision.

The responsibilities of property insurance adjuster depend on the type of insurance policy being considered. For example, if it is an insurance policy that covers residential structures, then it is the responsibility of a property insurance adjuster to investigate claims involving damages to residential buildings and contents such as furniture, clothing and appliances. On the other hand, if it is a commercial insurance policy that covers business structures and equipment, then it is the duty of a commercial claims adjuster to investigate claims involving damage to business equipment and supplies, office furniture and clothing, etc. The latter type of policy covers more than just residential properties. Thus, it is essential for property insurance adjusters to understand and deal with all types of policy coverage. For instance, a person who is insured through a homeowners' insurance policy will have different needs from one who has a commercial policy.

As mentioned earlier, property insurance adjusters have to deal with all sorts of coverage issues. Thus, these individuals are also known as claims advisors or brokers. Some of them even have certifications from the National Association of Insurance Commissioners and the Commercial Property Claims Professionals Association. This means that these claims adjusters have undergone thorough training and education in insurance matters and can be counted on to give sound advice to their clients on coverage issues.

Another important duty of a claims adjuster is the handling of subrogation. Subrogation is the term given to a client who is having a claim against his insurance company. This means that the person is requesting compensation for loss because of the wrongdoing or negligence of the company in which he has bought a policy. In this regard, the insurance company will ask for assistance from claims adjuster who has the ability to inspect subrogation issues and handle them accordingly.

Claims adjusters can work independently or in conjunction with the underwriter. In most cases, they work for the largest underwriting company in the area. However, some companies assign an independent claims adjuster license to an adjuster with at least a three-year track record of successful claims settlement and reduction of losses and damage payable. The most important consideration for employers or businesses when they are hiring an adjuster is their previous experience. Experience is everything especially in the world of insurance claims.

It is also important for employers or businesses to remember that they have certain rights when it comes to hiring the right adjusters. These rights include having access to comprehensive information about their employees. They need to know how many claims each adjuster has handled in the past as well as the specific areas of expertise that each adjuster has. Employers also have the right to request for further information on specific adjusters if they have questions regarding their employee's performance, or claim history.

As part of licensing, all-lines public adjuster licenses require that applicants pass the state examination. To be eligible for licensing, applicants must pass both the written examination and the field examination administered by the Department of Insurance. Some states have other licensing requirements, such as a degree from an approved educational institution or completion of a specified number of hours of training, but most states do not.