When you have a major property insurance claim, such as with storm damage, you will be contacted by an insurance adjuster who is assigned to handle that claim. The adjuster will evaluate the damage and follow up with a monetary offer to cover your loss.
There are many factors involved in determining loss. Not only is there the actual damage to the property, but there are secondary considerations. If the damage is to your home, there may be temporary living expenses incurred while the property is being repaired.
If the damage is to your place of business, you may have additional expenses that are required to continue operations while you don't have access to your premises, or you may have a loss of business income that is covered by your insurance policy.
It can be overwhelming to try to determine what is covered while you are already distracted by the displacement and interruption to normal activities. How can you possibly know if your insurance company's adjuster is considering all of the appropriate expenses and losses, when you may not even understand the intricate details of your insurance policy?
Insurance adjusters sent by the insurance company, represent only the interests of the insurance carrier, not your interests. His job is to settle the claim efficiently with the minimum financial impact on the insurance company. So what do you do?
The solution is to get your own Minnesota insurance adjuster. You can engage a Public Insurance Adjuster to represent you in settling the claim. A public adjuster represents only the insured party, is extensively trained in insurance, and is usually required to be licensed by the state.
He or she will be able to properly evaluate the losses that you have incurred, as well as determine the obligations of your insurance carrier. They will be familiar with the intricacies of insurance settlement and knowledgeable in the subtle differences in terms such as "actual cash value" as opposed to "replacement cost". These terms are quite different and don't necessarily mean what the average none trained person would expect.
To learn more about the role of insurance adjusters in settling your claim, click here to read the article, “The Truth about Insurance Adjusters.”
