As a business owner, you may not be well-versed in all the jargon thrown around by business insurance companies, and that is fine since your agent will likely guide you through the basics. However, you may benefit from understanding some roles that come into play once a claim is filed, such as the duties of an insurance adjuster.
An adjuster is a professional who makes an in-person visit to your business after you submit a claim. When at your location, they will inspect any and all damages that were reported in the claim, while also documenting them via photographs and written reports. This can be helpful should any additional damage occur after you file your original claim. Adjusters are used to also ensure that business owners were truthful in their claim, while further investigation may be requested by your company.
They may also interview you as the policyholder or any other witnesses who are available. If you filed a police report or if an employee was sent to the emergency room, you will need to forward documentation when submitting a claim, which will also likely be in the hand of the adjuster who is assigned your claim.
These insurance professionals are trained to understand property damage as well as replacement costs and actual cash value of items lost or in need of repair following an accident or incident.
Depending on your individual coverage provider, the adjuster used may be a staffed employee, while some companies choose to hire independent consultants.
Their main duty is to report back to insurance companies regarding actual damages, so that insurance providers know how much must be paid out if a claim is found legitimate.
In some cases, negotiation may be necessary if there are discrepancies found, while more severe cases may be taken before a court.
When speaking with your commercial insurance agent, be sure to set up a time and date for an adjuster to come out to your business for an inspection. Your company may make a request depending on the number of claims filed around the time you’ve filed yours, so making yourself available can provide a smoother process. Keep in mind adjusters work you your insurance company, so stay professional upon their arrival.