Dec
5th
Files under Insurance |
Posted by hairy8684
My house has been destroyed by fire.We have replacement insurance.Who does the insurance adjuster work for?Do I have a nightmare coming my way.I feel kinda vulnerable now.Is there someone I can hire to deal with all the paper work for me?
By MSAD on Dec 5, 2009 | Reply
The adjuster is an employee of the company. So, technically they “work for” the insurance company. That’s where their pay check comes from.
But I suspect that you have a misunderstanding of what an insurance company is….what insurance is for. The purpose of insurance is to put you back where you were before the loss…..not better…..not worse. The adjusters job is not to give away the farm …solve all your financial problems…but their job is also not to cheat you…or rob you blind.
The adjuster is there to help walk you through the process. Their job is to honor the contract that was made between you and the insurance company when you purchased your policy.
A fire claim is not a fast process. These claims are closely investigated. Your adjuster will be able to explain the process. However, it will not be a fast process. Ask your adjuster any questions you have. That’s what they are their for.
As far as hiring someone….in some states you can hire a “public adjuster”. Not ever state allows these. They don’t do the paperwork…you still have to do that yourself. It’s your claim. But a public adjuster can double check what the company adjuster is doing. Keep in mind…..the public adjuster can be very expensive. They are usually paid a % of your settlement. So, you can hire a public adjuster, but expect to give him 10% or more of any settlement you get. That means….you have that much less money to rebuild with. (The company adjuster does not inflate your claim to cover the cost of you hiring a public adjuster. Your claim is worth what it’s worth, regardless if you have a public adjuster or not. If you hire a public adjuster…you have to pay him).
By mbrcatz on Dec 5, 2009 | Reply
The adjuster works for the company.
If you want to, right off the top, give away 10% of the claim money to someone, the person to hire is a public adjuster. If you want to give away 30% of the claim money, you can hire a lawyer. Both of these, will slow down the claims process TREMENDOUSLY, and make it so the insurance company CANNOT talk to you. Not to ask you questions, not to ANSWER your questions.
By R K on Dec 5, 2009 | Reply
if you have replacement insurance you should have specific amounts
of your coverage like X amount for personal belongings and X amount for
dwelling Replacement already in your policy. whatever amounts you put in your policy that you wanted covered in the event of a loss is what you
should get. there shouldn’t be a lot of paper work as whats covered and the amounts are in your policy.