Public adjusting and insurance adjusting are two distinct roles within the insurance industry, each serving unique functions in the process of handling claims. Understanding the key differences between these two can help policyholders navigate their interactions with insurers more effectively.
Insurance adjusters, often employed by insurance companies, are tasked with assessing damage or loss and determining how much compensation a policyholder should receive under their policy terms. Their primary responsibility is to protect the financial interests of the insurer while ensuring that claims are settled fairly according to the contract. They investigate claims through inspections, interviews with claimants and witnesses, and reviewing relevant documentation such as police reports or medical records. Insurance adjusters aim to ensure that any payout aligns with what is stipulated in the policy agreement.
In contrast, public adjusters work on behalf of policyholders rather than insurance companies. They represent individuals or businesses filing an insurance claim by evaluating property damage and negotiating settlements directly with insurers. Public adjusters aim to secure a fair payout for their clients by conducting thorough assessments of losses and advocating for maximum compensation based on coverage details. Unlike company-employed adjusters who might prioritize minimizing payouts for insurers, public adjusters focus solely on protecting their click now client’s interests.
One significant difference lies in who hires them: while insurance companies employ staff or independent adjusters to handle claims from start to finish, public adjusters are hired directly by policyholders seeking assistance during claim negotiations.