May 11, 2010

Four Important Facts about the Function of a Field Adjuster in the Claims Process

Insurance adjusters typically attain licensing determined by the state they work. An auto insurance field adjuster is an important part of the claims process. It is important to understand their function in the claims process and the possible impact they could have on your auto insurance rate. Here are four important facts about the auto insurance field adjuster’s role in the claims process.

The auto insurance field adjuster investigates the accident. Once an insurance claim is filed, the adjuster travels to the site where the accident happened to conduct research. The field adjuster will collect information about the accident, such as photos and police reports from the incident. After reviewing the information, the auto field adjuster verifies that the policy covers the damages. If the damage to the property falls under a certain threshold, the field adjuster will approve the claim. If the incident requires additional investigation, the insurance company will work with an appraiser to verify the amount of property damage.

The insurance field adjuster works with the appraiser to assess the amount of property damage. When the amount of a claim is over a certain amount, or when there are questionable elements to the claim, the appraiser becomes involved. Appraisers are responsible for providing an approximate cost for repairs. The adjuster works with the appraiser to accurately assess the dollar amount of damage to the claimant’s property.

The auto insurance field adjuster negotiates the payout with the claimant on behalf of the insurance company. The adjuster attempts to use the findings of the investigation and the terms in the policy to arrive at an offer. When the insurance adjuster attempts to negotiate with the claimant, the claimant’s role in the accident is often factored in. This is done for the purpose of lowering the payout, which can affect your auto insurance rate in the long term should their findings assign fault to the claimant in any way. Once both parties agree on the dollar amount, the settlement process begins.

The auto field adjuster is responsible for administering a settlement agreement. This is the step that concludes the claim process. At this point an individual can expect to receive an agreement within the allotted statute of limitations. The auto insurance adjuster is responsible for finalizing the agreement and issuing payment to cover the claim.

The four things that all should know about insurance adjusters is that their responsibilities are to investigate, evaluate, negotiate, and settle claims as agents of the insurance companies they work for. These highly trained professionals are often required to undergo specialized training and licensing to work in this field. These requirements make adjusters experts in their field.