How Do Insurance Companies Pay Claims? Why You May Need a Claims Adjuster

How Do Insurance Companies Pay Claims Why You May Need a Claims Adjuster

An insurance adjuster is a person who evaluates your claim and determines how much money you’ll get from it. But what does the process look like? Here’s how it works:

If your property is damaged, your insurance company will send an adjuster to look at the damage. The adjuster will consider the damage’s extent and how much it will cost to repair it. The company will then determine your settlement amount–the amount you’ll be reimbursed to make repairs.

The need for a claims adjuster is simple. Insurance companies want to only pay out what they should. Adjusters are trained to assess claims, and an adjuster’s job is to identify damages and fraud that your insurance company may have overlooked. An experienced claims adjuster will help you get the most money possible from your claim.

Who Hires a Claims Adjuster?

Insurance companies and other self-insured parties hire adjusters to settle claims on their behalf. They’re tasked with communicating with policyholders, investigating accidents, and determining how much money should be paid out to claimants.

An adjuster gets paid differently than you think. First, a commission is taken off the top of any claim; then, the adjuster splits whatever is left over with the company’s attorneys and other employees who helped settle a claim. An adjuster gets paid after a claim has been settled.

The adjuster will interview the customer, inspect their property, and talk with witnesses who may have seen what happened. They’ll also look at other companies that have covered the same type of claim before and compare those records with yours.

Get The Payout You Deserve

Insurance claim adjustments for storm, fire, water, and other disasters.

Your claim will be paid if they find out you’re right! That simple. 

Commercial and Residential Claims

Commercial and residential insurance claims are very different from one another.

Commercial insurance claims are typically much more complex than residential claims, and they require a more significant amount of time to handle. Commercial insurance claims can involve multiple parties and a wide range of damages, including property damage, bodily injury, and personal injury. In addition to these issues, commercial insurance claims often involve multiple parties who may each want different things from the claim.

Residential insurance claims are much simpler than commercial ones because they involve fewer parties and less complicated damages. Residential insurance claims typically involve only two parties: the homeowner who has been harmed by an event such as fire or theft and the insurance company that wants to help them recover from those losses by paying out money for repairs or replacement costs on the damaged property.

How Claims Are Paid

Adjusters will look at the damage and determine what was caused by the incident and what is covered under your policy. They will then decide how much you are entitled to receive. Adjusters may ask for more information about the incident, including pictures of vehicles involved, police reports, witness statements and estimates from repair shops.

If you’ve received a claim check but it’s not enough to cover all of your losses (to replace or repair property damaged in an accident), adjusters will often request supporting documentation from reputable vendors such as a contractor or mechanic who can verify that additional repairs are needed. You’ll need to provide this paperwork within 30 days after receiving payment for your claim because otherwise there may be some question as to whether or not other damages would have been covered if they had been included in your original settlement check

Choose Link Public Adjusting for Your Claims!

Get the payout you genuinely deserve with Link Public Adjusting Group. We specialize in insurance claims adjustments for Storm, Water, Fire, and other disasters in the South Florida area. 

If you’re unsure if you need a claims adjuster, give us a call today to learn more!

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Helping Clients with their Losses, Even When They’re Unexpected

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