An adjuster is a professional that works with an insurance company to help calculate the cost of damages after an accident or natural disaster. Insurance adjusters may be independent, private, or company-based and will investigate an incident after a claim is filed to figure out how much the claim is worth. Adjusters perform the following activities:
The insurance adjuster will first schedule a time to visit after an accident. If you were in an accident and wrecked your car, the adjuster will examine the damage in great detail. They will investigate every detail and consider any previous repair or damages done to your property.
After reviewing the property damage, the adjuster will then use a computer program to help them estimate how much the accident-related damages are worth. For example, if a house got flooded by heavy rainfall, all the estimated repairs will be entered into the computer and totaled. The adjuster may also consult other professionals, such as contractors, to help them accurately assess how much the repair or replacement of the damages may be worth.
Property damage doesn’t just impact you through the loss of personal items but can also cause wage loss. This is because the property damage can make it difficult for you to go to work or make money if your business is affected by the damages. If you were injured during the incident, you might lose income because you cannot work.
Non-economic damages include the emotional distress that you might experience after the personal injury. This can include depression, PTSD, anxiety, low self-esteem, and other negative emotions. Adjusters will use a multiplier to calculate these damages. The economic damages are multiplied by a number to calculate the non-economic damages, which are added together to determine the total damages.
There may be other unforeseen damages that occurred because of the accident or disaster. For example, if there was job loss, damages may have to cover the cost of searching for a new job or training for a new career.
The policy can limit an insurance adjuster from fully covering the damages for a personal injury victim. For example, if the insurance company only provides $75,000 in liability insurance, then the adjuster will only allow the maximum amount even if the damages exceed this limit. The accident victim would have to speak with an attorney to obtain additional compensation to cover the expenses when this occurs. It is always good to double-check with an attorney to make sure the adjuster isn’t favoring the insurer and accurately estimating your damages.