Understanding the Difference Between Public and Company Adjusters and Their Importance
When it comes to insurance claims, there are two main types of adjusters - public adjusters and company adjusters. Understanding the difference between the two, and the role they play in the claims process, is important for policyholders.
Company adjusters, also known as staff adjusters, work for the insurance company. They are responsible for investigating and evaluating claims on behalf of the insurance company. Their main goal is to protect the interests of the insurance company and to settle claims in a way that is favorable to the company.
Public adjusters, on the other hand, work for the policyholder. They are independent adjusters who represent the policyholder's interests in the claims process. They are responsible for investigating and evaluating the claim, determining the value of the loss, and negotiating a settlement on behalf of the policyholder.
Both types of adjusters play an important role in the claims process. Company adjusters help the insurance company to manage claims efficiently and fairly. Public adjusters help policyholders to understand the claims process and to ensure that they receive a fair settlement for their loss.
It's important to note that Public Adjusters are not employees of the insurance company, but rather are independent contractors who work for the policyholder. They are licensed by the state and have to pass a test, have a background check and are held to a certain standard and code of ethics.
Policyholders who have suffered a loss have the option to work with either a company adjuster or a public adjuster. However, it is important to keep in mind that public adjusters are there to represent the policyholder's interests, and can be a valuable resource for those who feel overwhelmed by the claims process.
In conclusion, both public adjusters and company adjusters are important in the insurance claims process, and play a vital role in ensuring that claims are handled fairly and efficiently. Policyholders should be aware of the difference between the two, and consider working with a public adjuster if they are uncertain about the claims process or feel they are not being treated fairly by their insurance company.