How To Become A Licensed Insurance Adjuster In Florida – An independent adjuster is considered independent because he may not be employed directly by the company, firm, or institution in question but by third parties who specialize in homeowners or other types of insurance claims. An independent adjuster adjusts claims on behalf of the insurance company, but not directly as an employee of the insurance company. When contracted as a third party, the insurer essentially outsources the claims and adjustment process to a claims handling company, which then turns it over to one of its adjusters.
Homeowner’s insurance will protect you from some damages incurred, such as storm or break damage. If you need to file a claim for an insurance policy, a claims adjuster will come to assess the damage and legitimacy of the claim back to the insurance company.
How To Become A Licensed Insurance Adjuster In Florida
Two types of adjusters will typically conduct the audit—either a public adjuster or an independent adjuster. An independent adjuster will appear to be the most useful for the home owner, but the difference between the two adjusters is often misunderstood.
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Independent adjusters are required to comply with the licensing requirements of the country where they work. They can work as 1099 independent contractors or W-2 employees. They are usually hired for one of two main reasons – high claim volume and/or statutory reasons. During natural disasters, the number of homeowner claims increases substantially.
For example, in 2012 Hurricane Sandy destroyed a considerable portion of the coast of New Jersey and New York, severely damaged more than 340,000 houses. As a result, homeowners insurance companies saw a spike in claims.
Insurance companies often do not have the human resources to represent this type of responsibility and, therefore, will hire independent adjusters to ease their workload. Insurance companies can commission third-party insurance companies to negotiate and evaluate cases on their behalf. The nature of this type of work also highlights the use of independent adjusters in remote or highly specialized areas. An example of this could be a country house in the mountains or damage caused by rare animals not often seen in most insurance claims.
In many cases, the rules of a particular state or provision of a specific insurance contract will also mandate the use of an independent adjuster. This is something to consider when purchasing home owner insurance and comparing different insurance companies.
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Independent insurance adjusters are not your only option, however. If you want your own adjuster to handle the process for you, there are public adjusters. General adjusters work solely on behalf of the home owner and do not represent an insurance company in negotiations.
If you own a home, it’s best to understand when an independent insurance adjuster is needed. For example, let’s assume that a severe storm causes a tree on your neighbor’s house to fall into your yard, damaging your fence and part of your house’s roof in the process. You submit a claim with your homeowner’s insurance company and your insurance company contracts an independent insurance adjuster.
An insurance adjuster will visit your property to assess the extent of the damage and take photos. They can also talk to you and your neighbors to find out what happened. Once they leave your property, the insurance adjuster can consult with a fencing or roofing repair professional to determine how much the repair will cost.
Once they have collected all the necessary information, they will compile it into a report and present it to your insurance company. The insurance company can then review the report and determine how much to pay towards your claim, based on our independent insurance adjuster’s assessment.
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An independent adjuster does not represent the home owner. If the home owner needs their own representation, a pubic adjuster may be the best choice.
The public adjuster will make their own assessment of the home damage, and the insured can then submit a report to their insurance company. While, in theory, the public adjuster has the best intentions of having a policy in mind, always be mindful when hiring one. A homeowner’s inexperience and especially an adjuster’s create an opportunity for manipulation. The same goes for independent adjusters and all insurance companies as well.
The benefit to homeowners using a public adjuster is that, like an insurance attorney, the public adjuster is paid a commission from the recovery. In other words, they only get paid if you do, which encourages them to work in your best interest. The payment comes from the money you receive from the insurance payout. General adjusters are also hired to assess the work done by independent adjusters to assure corners have not been cut and that the homeowner receives as much as they can.
If you still believe your insurance company owes more than what it is willing to pay, it may be necessary to hire a lawyer to pursue a civil claim.
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Understanding the definition of an independent adjuster is critical to your claims process. An independent adjuster does not represent the home owner in any capacity; Rather, the independent adjuster represents the insurance company. If you prefer to have your own representation, using a general adjuster can be a good idea.
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When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, usually in the form of cookies. Cookies collect information about your preferences and your device and are used to make the site work as you expect, understand how you interact with the site, and to show advertisements targeted to your interests. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting the Cookies Settings, which can also be found in the footer of the site. If you like working in the insurance industry and you like the idea of freelancing, you may want to pursue a career in independent claims adjusting. In this type of role, you will be contracted by a third party, independent adjustment (IA) firm to investigate damage claims for insurance companies. This is often done when the company’s staff adjustment is overloaded, or when the claimant is in a remote location affected by natural disasters such as fires, floods, tornadoes and hurricanes. To pursue this career path, you need to know how to become an independent claims adjuster. And that’s what this article is all about. We’ve listed six key steps that will help you set the wheels in motion. Step 1: Make Sure You Meet the Basic Requirements In the United States, you must be at least 18 years old, have a valid driver’s license, own your own vehicle, be able to read and write fluently in English, and be able to move freely to complete tasks in various environments . Step 2: Decide If You Need Additional Education Most claims adjusters have a college degree. So, if you already have an associate’s, bachelor’s or master’s degree, you are in a good position to pursue a job as an independent adjuster. College graduates who complete an insurance degree program are especially attractive to prospective employers. If you don’t have a degree, you might want to consider results. This can help you stand out from uneducated job applicants. However, you should know that it is also possible to become an independent adjuster with only a high school diploma or GED. This is especially true if you have previous work experience that helped you gain useful skills and knowledge. Degree or no degree: Ultimately, the decision is up to you. Step 3: Get Your Insurance Adjuster License Whether you need an insurance adjuster license depends on the state in which you live. If your state requires a license, you will need to obtain one to handle legal and insurance claims. To do this, you need to enroll in a preparation course that can help you understand the information needed to pass the insurance adjuster license exam. You must also apply for a reciprocal license in another state where you can work as an independent adjuster. Also, be aware that some IA firms may require you to have a license – regardless of the state you are in – because it shows that you demonstrate appropriate knowledge of your profession. If you live in a state that does not require a license, you can select another state as your “designated home state” to obtain a license. When you are ready to obtain your first license: Complete the pre-license prep course provided by your home state (or designated home state). You passed
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