What are Insurance Claims Adjustments?
The article offers an explanation as to what Insurance Claims Adjustments are, along with the actual mechanics involved during an adjustment process. The article also touches on the methods of recourse that the consumer has, is he/she is not happy with the process.
Insurance Claims Adjustments are the bane of the ordinary consumer's life as they represent (at least from the consumer's perspective) an unwelcome and intrusive interference into their life. Their life is investigated; their every word questioned, doubted and subject to strict examination.
Personal information such as medical records and police files are turned over to the agents involved with Insurance Claims Adjustments, as the claim adjusters will be acting as private investigator cum inquisitor.
What is the process involved with Insurance Claims Adjustments?
- The claim adjuster (also known as loss adjuster in some regions) will interview and record a written statement from the claimant, along with the testimony of witnesses to the incident involved if appropriate. For example, if there was a car collision, then the loss adjuster will interview eyewitnesses who may have seen the incident, as well as police officers on scene.
- With all evidence collated and all facts discerned, the loss adjuster will then compile a report and send it to their superiors.
- The value of the claim of the insurance policy holder will be adjusted accordingly.
Insurance Claims Adjustments are often seen negatively by the consumer, as they see it rather cynically as nothing more than an exercise designed to devalue their claim and reduce the level of compensation that they should be entitled to. As briefly outlined before, many consumers are resentful of the carte blanche that loss adjusters appointed by the insurance provider seem to enjoy.
How true or accurate is this belief of consumers?
- The findings of the agent acting for the Insurance Claims Adjustments is not written in stone, i.e. it is not legally binding, rather it is simply used to help reach the final decision.
- Using the report so compiled, the insurance company will make a final offer based on the recommendations of their agent.
- The consumer can negotiate with the insurance company so as to ensure that they secure the best possible deal on offer.
- If the consumer is still dissatisfied with the final outcome of the Insurance Claims Adjustments, then they have every right to contact a public adjuster who will act on their behalf and who is an entirely objective, neutral 3rd party.
Therefore, the view that loss adjusters will automatically side with the insurance company is not quite accurate, and the process is much more involved. The fact that they are ultimately answerable to a public adjuster who will audit and query their decisions and their findings means that there is little room for skullduggery.
If a consumer, after having resorted to a public adjuster, is still unhappy with the decision concerning their Insurance Claims Adjustments, can always pursue an action in court for satisfaction. This should only ever be considered a method of last resort, considering the horrifically high costs associated with pursuing and maintaining a legal action.
At "Appraisal California" we have access to experienced, empathetic, and diligent property appraisers who will try their absolute best to resolve the issue quickly and painlessly. You can be assured of an unbiased, well-conducted and fair adjustment process that will help you get your rightful due from the insurance company.