Working with insurance adjusters is a core component of restoration work. So it’s important to know the ins and outs of insurance adjusters — what they do and how they think. Knowing this will help you more effectively communicate with insurance carriers and get paid what you’re owed. An adjuster is responsible for investigating insurance claims to determine the extent of the insurance carrier’s liability and negotiate a payout on claims
Their goal is to settle claims and protect the interests of the insurance carrier. Accomplishing this goal involves five main elements: verifying the policy, investigating the claim, determining the value of the claim, negotiating a settlement, and ensuring policyholder satisfaction.
The adjuster will carefully review the insurance policy documents to understand the terms and conditions of the policy, including the coverage limits, exclusions, deductibles, and other relevant details. Verifying the policy is an important step in the claims process that helps ensure that the insurance company is responsible for covering the loss according to the terms of the policy.
The adjuster will investigate the cause of the loss, assess the damage, and gather information from the policyholder, witnesses, and experts.
The adjuster will evaluate the damage and determine the amount of money required to repair or replace the damaged property.
The adjuster will negotiate a settlement with the policyholder based on the terms of the policy, the value of the claim, and any applicable laws and regulations.
The adjuster will work to ensure that the policyholder is satisfied with the settlement and that the claim is settled quickly and efficiently.
We hope these tips help you understand the goals of insurance adjusters so you can more effectively navigate negotiations with them. To receive bi-weekly tips on all things restoration, sign up for our newsletter, Claims Corner.