A Guide to Property Adjusters The insurance industry is known for sharing of incomplete information such as many firms do not inform their clients when purchasing covers that a property claim appraiser will be used in determination of compensation when they suffer a loss. Therefore the insurance clients have the assumption that the only item required when accidents occur is filling and filing claims’ form. What they do not know is that insurance companies have a property appraisal dependent who decision will affect the compensation. Therefore it is important to understand the functions performed by casualty adjusters. The roles of casualty adjuster in the claim and compensation processes are as follows. They investigate the accident. This is done to ensure the accident is not a result of the property owners’ negligence or it was intentionally caused. To do this, the appraiser will question various partied which are either involved or were witness to the accident. They will get the police statements issued. Casualty adjuster next role is evaluating the extent of the loss. Purpose being to give a financial amount to the level of damage. This will influence the settlement value. The property adjusters also find out whether the accident was the as result of the insured risk. Meaning for a person to be compensated the cause of accident should match with the insured risk. Also the property adjuster will determine whether the home owner has been honoring the terms of insurance such paying the insurance.
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The property adjuster hired by the insurance company is more likely to make decision favoring the insurer. Therefore home owners are advised to hire their casualty adjuster. The property adjusters recruited by property owners serve the following roles. Personal casualty adjusters are involved in the process of filing for claim. People usually undermine the importance accuracy in this stage because they do not understand the insurance company may deny liability as a result of inaccurate claims form. Hence it is necessary to file the form under the supervision of your casualty adjuster.
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They also reject any report by the insurance company on the accident by inaccuracy. This is done by them conducting their independent investigations. Then the two property adjusters will compare their finding and agree on the most accurate one. Casualty adjusters hired by the insurance’s client will assist in quantifying the loss to a favorable monetary value to the property owner. It entails a discussion on the accurate loss suffered by the home owner. The insurance company aims to pay the least possible amount. Therefore it is the work of your property adjuster to negotiate a fair compensation.
