Policyholders are represented by insurance claim adjusters or negotiatiors or public adjusters for appraisals or negotiations for the insurance claim by the claimant. Aside from the attorneys, the broker’s record, public adjusters are authorized by state departments for insurance as the only claim adjusters. When an insurance claim is in progress, public adjusters are allowed to represent the rights of the insured. If the insurer pays for the claim, the public adjusters benefit but they are sometimes unable to identify the claim or the valuation loss. Essentially they assess the damage, compile an estimate as well as other claim documents, peruse the insurance policy to decide the coverages and also bargain with the adjusters of the insurance company.
Evaluating losses interruption and analyzing expense claims are the main responsibilities of public adjusters. Public adjusters also decide on the amount to be paid for the damages covered, the support, documentation and draft claims on behalf of the insured. They also bargain for payment for the insured with the insured company. In case a claim has already been settled public adjusters can negotiate for more payments if they identify another fault.
Professional advisers like technical advisers, general contractors and structural engineers and public adjusters can mostly know the damages which were not seen by the insurance adjusters. The reason behind this could be either being overworked, overbooked or they could be new. Most insurance adjusters try to complete the job and hop to the other appointments. Some items are overlooked, underpriced and some go missing due to the delay by the insurance adjusters to submit reports on the owner’s property early enough.
But, when an insurance company brings negotiations and when a payment has been given to the insured, public adjusters can still negotiate for higher settlements in case more damages develop or if they discover others.
There are other options by public adjusters if the two involved parties do not agree on the full amount to be paid by the claimant. Public adjusters can raise an appeal on the claim through the supervisor or the upper management. In case that does not help the dispute, public adjusters call for appraisals.
The value of the claim can be determined by the various appraisers that every party hires. All parties feel they have won in an appraisal meaning it is a good solution. In case the appraisal process called by the public adjuster does not solve the case, a lawsuit or arbitration is the last resolve which is normally expensive and time-consuming.