What types of insurance adjusters are there? – Did you know, when you file an auto or homeowners insurance claim, you need to know that some adjusters work for the insured, and some work for insurance companies.
Understanding the difference between independent and public adjusters helps you understand the motivations behind the adjuster’s decisions. These motivations can impact the success or failure of your claim settlement.
First off, thanks for reading this blog article on the topic of understanding the public adjusting industry. In this blog article, we will answer the question – ”What types of insurance adjusters are there?” Many times in small and larger communities around the country this is a popular question families ask us. We wanted to take a moment and address it now.
So you probably want someone who fights to get you the best claim settlement outcome, so please read on. It will likely save you thousands in repair and replacement expenses.
Types of Claims Adjusters – What types of insurance adjusters are there?
There are three types of claims adjusters, including:
- Staff adjusters
- Independent adjusters
- Public adjusters
What is the difference between a Staff Adjuster vs. an Independent Adjuster vs. a Public Adjuster?
Were you aware that there are two types of adjusters who work for and report to insurers? It is true, they are company adjusters and those employed by independent adjuster firms.
Staff adjusters, also known as company adjusters, are employed directly by insurance carriers. They are full-time employees who work exclusively for the insurer, and they are on the insurer’s payroll. Their primary responsibility is handling claim services for the insurer, and they are motivated to save the insurer money.
As the name implies, the staff adjuster is an employee of the insurance company. They work full time and are paid on a salary or hourly basis for any claim that comes to the insurance company’s door.
In short, here is what you really need to know about Staff Adjusters:
- Staff Adjusters Are Employed By: Insurance company as an employee
- They Work For: One insurance company
- What is there motive: They want to save insurance company money!
Also, it is important to note that just because your insurance company hired the staff adjuster, the local or national insurance company actually has two primary goals:
• To save the insurance company money
• To handle all claims in such a way that it reflects well on their employer
An independent adjuster investigates claims and works as an independent contractor for themselves or independent adjusting firms. Independent insurance adjusters are typically required to be licensed, but not in all states. It would be wise to check with your state insurance commissioner’s website for your state’s licensing requirements before you agree to allow them to look and give an opinion on your property damage claim.
Your insurance company employs and pays this type of adjuster. They are insurance company representatives. That means that the independent property claims adjuster aims to save the insurer money.
Sometimes insurance companies don’t want to hire full-time, in-house adjusters because of how much it costs to pay them. The alternative is to hire an independent adjuster and contract them on a case-by-case basis.
So let’s look closely at what you really need to know about an Independent Adjuster:
- Independent Adjsuters Are Employed By: Themselves and/or their firm
- They Work For: Any number of contracted insurance companies
- Their Goal Is To: Save insurance company money
Independent insurance adjusters, also known as loss adjusters, often work for multiple carriers in the insurance industry. They mostly get utilized for claims involving large amounts and catastrophic claims.
You, the insurance policyholder hire the public insurance adjuster, and therefore, they work directly for you, the insured. They typically have one main goal: to get you a quick and fair insurance claim settlement commensurate with your insurance coverage. The insurer does not pay them in any capacity, so you can trust them to have your best interest in mind. Since you hired them, they fight for you, not the insurance company.
Unlike other types of adjusters that may or may not need to be licensed depending on the state, public adjusters are licensed and trained to assist with the insurance claim process. Since they don’t work on behalf of an insurance company, they don’t have ulterior motives. They are simply there to help the insured. Need our help now – call us at (844) 792-8911
So let’s quickly look at what you need to know about the Public Adjuster:
- A Public Adjuster IS Employed By: Themselves and/or their firm
- They Work For: Their client, the insured
- Their Motive Is Simple: They want to help the insured get a quick, fair settlement.
Public adjusters, also called loss assessors, might be freelancers or work for public adjusting firms. The help they provide includes:
• Assessing the damage and providing cost estimates for repair or replacement of damaged items
• Gathering documentation, including pictures, videos, receipts, police or fire reports, etc.
• Filling out and filing claim forms online
• Ensuring both you and your company insurance adjuster adhere to claim deadlines
• Communicating with the insurance company staff or independent adjuster
• Attending meetings, including calls, emails, and on-site visits
• Handling all communications with your insurance company, if you prefer to be hands-off
• Being your guide, counsel, and truth-teller throughout the claims process
• Negotiating your final claim settlement
Most states require that public adjusters be licensed before they can offer their services. When choosing a public adjusting firm for your claim, seek out an all-lines adjuster agency. They can provide claims management for all types of coverage. Be sure they have a valid license and check the adjuster’s experience relating to your specific claim.
These insurance professionals do charge a fee to help you with liability and property insurance claims. They also usually do not charge an upfront fee. Instead, public adjusters typically charge a percentage of your claim settlement that they help you win. The fees range between 10% and 20%.
Some state laws cap the fees public adjusters can charge. Such as Florida, which caps fees at 20% for supplemental or reopened claims.
Some public adjusters charge a flat fee. Less experienced adjusters usually charge around $5,000 on a $100,000 claim, and a seasoned adjuster charges $10,000 to $15,000. The flat fees are typically capped at $15,000 or less.
Difference Between Loss Assessor and Loss Adjuster – What types of insurance adjusters are there?
The main difference between loss adjusters and loss assessors is who employs and pays each adjuster’s salary. A loss assessor works for the insured, you, while a loss adjuster works for the insurance company.
Loss Assessor. A public adjuster also sometimes gets referred to as a loss assessor. You can appoint a loss assessor to assist you with the entire insurance claims process. This assistance includes gathering the necessary documentation, such as police reports, and assessing damages. They provide repair or replacement estimates and help negotiate your claim settlement.
They are also skilled at handling claims previously declined by the insurance company. Anytime you need to file an insurance claim — especially one with a potentially large payout — consider appointing a loss assessor.
Loss Adjuster. An insurance loss adjuster is one that reports to the insurance company after investigating a claim. They advise the insurance company on how to proceed, including what they feel is a fair settlement.
S.W.A.T. strongly recommends that you should not seek advice from the insurer’s loss adjuster. Their interest is, first and foremost, what is best for the insurance company. Instead, hiring a loss assessor is the best way to ensure you have a successful claim.
It is always best to hire a public adjuster when you file insurance claims. Doing so can mean the difference in being denied or approved for a valid home insurance claim. They also help get you a claim settlement amount you deserve, and one that pays for all your damages or replacements. A public adjuster should be willing to fight until they win a settlement that is satisfactory to the policyholder.
Final Thoughts from S.W.A.T. – A Public Adjusting Firm
Just remember, when you go to file your insurance claim, you will be assigned an adjuster. But who is that adjuster? And who are they working for? Hopefully, this blog article has shown you that you are able to hire your own adjuster. Need our help now – call us at (844) 792-8911
You have heard the various types of adjusters thrown around in this blog article and the lingo tied to them. Now that you better understand the possibilities for who will evaluate your damage and help submit your insurance claim. It is wise to contact us for helping you with getting the outcome you desire.
Just keep in mind that not all adjusters are the same. Even as you go to hire your own adjuster, you may think an Independent Adjuster, for example, works completely separate from the insurance company. That is not the case, so once again – it might be wise to call us to ensure you are actually working with a state-licensed public adjuster.
Thanks for reading – What types of insurance adjusters are there?
Public adjusting solutions are possible with S.W.A.T., we work for you. We hope you have learned a little bit from this blog article and if you liked it – we have many more like this one to share with you. Remember to follow us on Facebook!
A little bit about us, we can work with people in support of any claim adjusting issues through our custom insurance claims consulting approach. This can be achieved through a blend of any of the aforementioned product offerings, as well as through outsourcing, data analysis, and the development of customized solutions focused on gaining a greater understanding of the program
issues and the overall program cost reduction potential. We know this sounds confusing but when it comes to getting the outcome that you desire from the insurance company – we work on many different strategies to get it done.
Our team also can focus on medical treatment and medical costs, helping a small business owner develop strategies, address cost drivers, and integrate solutions into its workers’ compensation while the small business is closed due to flooding issues. So reach out to us today via our contact page to get started.