The Company’s Best Interest

Property damage is monumentally frustrating. Not only does it have financial effects, it is also a huge time drain. The first thing to do is contact your insurance provider. Then, an insurance adjuster surveys the damage to ascertain the perceived value of the damaged property. They then report it to the insurance company and a settlement is offered. It’s then up to the claimant to decide whether to accept the amount or attempt to get a higher amount.

Most have limited knowledge about the insurance industry. This is in the insurance company’s best interests. The less you know, the less they end up paying you. You may think they are on your side because of the monthly payments you send them, but it’s still a business. Companies protect their bottom line as much as possible.

Did you know there is more than one kind of insurance adjuster? There are actually three. Knowing what kind you are dealing with is the first step to getting the desired settlement amount. Here is a brief description of each type of insurance adjuster.

<strong>Company Adjuster</strong> – These are the adjusters that insurance companies send out. They work directly for the insurance provider, meaning they have the companies best interests in mind. Their primary goal is to get you to agree to the lowest possible settlement figure.

<strong>Independent Adjuster</strong> – Independent adjusters sound better than company adjusters, but they aren’t. They are hired by the company as private contractors. They don’t work for the company directly, but they still have its interests at heart. Independent adjusters are sometimes worse because they feel if they get the insurer a good deal they’re chances of being hired again increase.

<strong>Public Adjuster</strong> A public adjuster is hired directly by the claimant to investigate their damage, often as a response to what they feel is an unfair offer. Public adjusters require more licensing and education than the other two kinds in many states. They are sometimes referred to as a private adjuster.

The ideal scenario during a claim is to get a great offer from the company adjuster. You’ll get the settlement you’re looking for at no cost. If you don’t, a public adjuster is a valuable resource. Thanks to the years of experience they have in the industry, they know every trick insurers employ and can counter them effectively to get you the best offer possible.

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