The difference between a Public adjuster and an Insurance Company Adjuster

When it comes to filing an insurance claim, it’s important to understand the difference between a public adjuster and an insurance company adjuster. Both types of adjusters play important roles in the claims process, but they have different responsibilities and objectives.

What is a Public Adjuster?

A public adjuster is an independent adjuster who is hired by policyholders to represent their interests during the claims process. They are experts in insurance policies and claims, and their main objective is to ensure that their clients receive the maximum settlement possible under their insurance policy. Public adjusters work for the policyholder, not the insurance company.

What is an Insurance Company Adjuster?

On the other hand, an insurance company adjuster is an employee of the insurance company. Their main objective is to investigate and evaluate claims on behalf of the insurance company, with the goal of settling the claim for the least amount possible. They work for the insurance company and their role is to protect the company’s financial interests.

What are the Main Differences?

One of the main differences between a public adjuster and an insurance company adjuster is their level of expertise in insurance policies and claims. Public adjusters are experts in interpreting insurance policies and identifying coverage that may not be obvious to policyholders. They also have a deep understanding of the claims process and know how to navigate the complex procedures and paperwork involved. This expertise can be invaluable in ensuring that policyholders receive the maximum settlement possible.

Representation Level

Another key difference is the level of representation provided by each type of adjuster. Public adjusters are hired to represent the policyholder, and they work to ensure that their client’s interests are protected throughout the claims process. They will negotiate with the insurance company on behalf of the policyholder, and they will advocate for the policyholder’s rights and interests. Insurance company adjusters, on the other hand, are working for the insurance company and their main objective is to minimize the amount paid out on claims.

Level of Objectvity

One of the most important differences between a public adjuster and an insurance company adjuster is their level of objectivity. Public adjusters are independent and have no financial interest in the outcome of the claim. They are only focused on getting the best possible settlement for their client. Insurance company adjusters, on the other hand, are working to protect the financial interests of the insurance company. This can lead to conflicts of interest and a lack of objectivity in the claims process.

Communication

Another difference between a public adjuster and an insurance company adjuster is the level of communication and transparency provided. Public adjusters are required to keep their clients informed of the progress of their claim and to provide regular updates. They are also required to provide their clients with detailed explanations of the claims process and the settlement offer. Insurance company adjusters, on the other hand, may not provide the same level of communication and transparency.

It’s also important to note that public adjusters are only paid if they successfully negotiate a settlement on behalf of the policyholder. They usually charge a percentage of the settlement, but only if they were successful in settling the claim. In contrast, insurance company adjusters are paid a salary by the insurance company whether they settle the claim or not.

Final Thoughts

In conclusion, public adjusters and insurance company adjusters are two very different types of adjusters that play important roles in the insurance claims process. Public adjusters are independent experts who are hired by policyholders to represent their interests and ensure that they receive the maximum settlement possible. Insurance company adjusters, on the other hand, are employees of the insurance company whose main objective is to investigate and evaluate claims on behalf of the insurance company, with the goal of settling the claim for the least amount possible. Understanding the difference between these two types of adjusters can help you make an informed decision about who to hire when filing an insurance claim.