Small businesses have a 40 percent chance of filing an insurance claim during a 10-year period, according to a study by The Hartford. After loss or damage, your insurer will probably call in one of several claims experts to help with your claim.
Claims adjusters, appraisers, examiners, and investigators have some similar roles, but they also have very specific roles.
Adjusters inspect property damage to determine how much the insurance company should pay for the loss. This could be a home, business, or automobile. They conduct interviews, look at police reports, and work with other professionals (such as accountants, architects, lawyers or physicians) to evaluate a claim.
Appraisersestimate the cost or value of an insured item. Most are auto damage appraisers and work for insurance companies and independent adjusting firms. All of the information they gather goes to the adjuster who puts the estimated cost of repairs into the settlement.
Claims examinersreview claims after they are submitted to ensure claimants and adjusters have followed proper guidelines. They may also assist adjusters with complicated claims, such as when natural disasters occur and claim numbers rise.
Insurance investigators handle claims in which the company suspects fraudulent or criminal activity. This may include arson, staged accidents or unnecessary medical treatments.
So if you find yourself in a situation where you need to file a claim, one of these experts will be there to help with your claim. For more information, contact your BPJ associate.