Adjusting

Adjusting is the process of the review and settlement of losses with or by an insurance company.

This process usually starts with the adjuster being notified of a new claim opening. The adjuster will either proceed to look after the claim directly or an independent adjuster is appointed. The insurance company adjuster now becomes the examiner and will weight the evidence presented by the independent.

The claim is now investigated. Once statements have been made then a determination is made whether or not that the claim will be paid. Now further information is gathered. This information relates to the extent of the loss, the cost of replacement or repair of property and the payout of the claim.

You, the person presenting the claim will have to complete certain documentation attesting to the value, date of purchase and current replacement cost for items damaged or destroyed. You will be required to respond to the adjuster's inquiries with due diligence to help in the resolution of the final claim.

Adjusters require licensing and are held to a code of conduct. An adjust must treat you respectfully and without prejudice. There have been some significant claims made by the insureds against adjusters who did not follow this practice.

If you have any questions regarding your claim then ask your claims representative and if not satisfied, talk to your agent or broker. Remember, your agent or broker cannot act on behalf of the insurance company in regards to a claim but they certainly can assist in resolving a communication breakdown. Insurance companies are in the business of paying claims.