Public Adjusters: What You Should Know

Insurance claims may sometimes be a complicated process for most policy holders. The complications stem on several factors that include: complexity of insurance policy documents, difficulty in assessment of damage for the claim being sought and preparation of relevant documents required for claim seeking. These difficulties are usually well handled by insurance claim adjusters. Insurance claim adjusters are basically legally registered firms that seek to make the process less difficult by assisting policy holders to go through the entire process with ease. They are experts in the insurance field who can understand the policy documents, assess the extent of damage to the insured property and prepare relevant documents in relation to the damage on behalf of the claimant. They then negotiate with the insuring company in order to reach an amicable solution on the claim settlement.

There are three main groups of insurance claim adjusters. The first group consists of staff adjusters who are employees of an insurance company who have expertise in claim adjustment. They therefore work for the company on behalf of the policy holder seeking a claim settlement. The second group consists of Public Insurance Adjuster. These also work for insurance companies on behalf of the client only that they are not employees of the company. Independent adjusters work for the company on contract. They are therefore called upon only when the company needs their services. The last group consists of public adjusters. These are freelance firms that are specialists in insurance claim settlement procedures. They represent individual policy holders who seek a claim settlement from an insurance firm.

Public adjusters are usually called upon by individuals in a situation where the company recognizes the claim and is ready to pay with the only problem being the procedure. They then do loss assessment on the level of damage of the insured property. In the case of fire damage, public adjusters try to establish whether the property is completely written off for full settlement or is reparable for partial settlement. For instance most of public adjusters in Wisconsin handle insurance matters that relate to residential and commercial properties. They therefore handle issues to do with claiming settlement due to destruction of the properties by fire. Public adjusters will then prepare documentation upon reading of the insurance policy document. The documents are usually in line with the policy document so as to avoid any conflicts. The next stage requires them to negotiate with the insurance company in question in order to reach an amicable solution in relation to the claim settlement.

Public adjusters usually charge a fee for their services. The fee differs from one firm to another since there is no legislation in place that sets a limit in terms of fees charged. Notable though is the fact that independent and staff adjusters are paid according to their agreements with the insurance company contracting them while Wisconsin Fire Damage public adjusters set their own fee due to the fact that they deal with policy holders directly. Most often than not, the fee is usually a percentage commensurate and proportional to the claim being sought.