Who is the adjuster for the insurance company?
Your insurance company will send an adjuster to your house to handle your claim. This is the insurance company’s adjuster. The goal of the insurance company’s adjuster is to protect the company’s bottom line: he or she is a salaried employee or independent contractor of the insurance company. A public adjuster or private adjuster works differently.
How are independent insurance adjusters paid [ infographic ]?
Independent adjusters are paid in a few different ways but almost always they split the fee bill with the IA Firm. This means we split the money made from handling the claim with the IA firm. The adjuster usually makes between 50% and 70% of the amount the IA firm bills to the insurance company for the claim.
How are independent insurance adjusters paid for Hurricane Sandy?
Below you will find an actual example of a fee schedule from one carrier (remember this money is split between the adjuster and the IA firm). On hurricane Sandy I was paid 65% of the fee schedule. Full cost of agreed repair or replacement (including depreciation or betterment)
How to get an independent property damage adjuster?
• Ask the insurance company to send a property damage adjuster immediately or hire third party independent adjuster to provide unbiased and straightforward advice. • Once they’re in your property, point out the area where the damage is most visible and let them know if you don’t understand the full extent of it.
How does an independent insurance adjuster work for the insurance company?
Independent insurance adjusters work for the insurance company but through a third party that specialized in homeowners or other types of insurance claims.
Is there demand for independent claims adjusters and appraisers?
YES. The demand for independent adjusters and appraisers varies greatly depending on the time of year, the number of catastrophic claims, and current claim volume. There is a serious lack of new adjusters and appraisers in the industry as a whole. How much do independent claims adjusters make per claim?
How to find a good public insurance adjuster?
There are a number of things a policyholder can do to make sure they are hiring a good public adjuster. The first thing they should check is whether the public adjuster can legally practice. Public insurance adjusters must be licensed in every individual state they practice in.
When to expect a response from a claims adjuster?
Give them at least 24 hours to respond You should expect a return call or email for most requests within one business day. Many people expect adjusters to call them back same day and get very put off by repeatedly getting a voicemail. Multiple calls and voicemails aren’t going to make an adjuster more eager to call you back either.