This is a professional that investigates insurance claims to determine whether they are covered by the policy or not they are filing the claim on. If it is covered they will recommend a payout in order to settle the claim. Being a loss adjuster may require that you travel for work regularly because you will often need to travel to where the claim is to collect information. The pay rates can vary depending on your level of experience and record with the company you are working for. Generally a loss adjuster will work on behalf of an insurance company. They will work as a third party that has been contracted by the insurance company or as an employee of the insurance company. Although they will assist a customer with the preparation of any claims a loss adjuster’s loyalty lies with the insurance company. They will work to minimize the payout required to be paid to the customer who has filed the claim. In some instances, a loss adjuster’s work will result in a settlement that is satisfactory to all parties involved and the claim can be settled but other times the customer may dispute the payout offered. This can make the claim more complicated.

Instead of hiring a loss adjuster that works for the insurance company they can hire a public loss adjuster. They do not work for an insurance company but instead work on the behalf of the policyholder. Sometimes they can negotiate a higher settlement. They will also help the customer file the paperwork for claims properly and making sure that the paperwork is filled out appropriately to cut down on disputes and lost time.

When investigating a claim the loss adjuster may visit the site, conduct interviews, and inspect any related materials. They can also consult professionals to gather more information. For example, if there is a house fire a professional can be consulted to help the loss adjuster know more about the cause of the fire. Once everything is done the adjuster will put all the material and information that they have collected into a report that is filed with the insurance company. In this report the adjuster will give an opinion on whether the insurance company is obliged to provide coverage or not along with the recommended payout should be according to the specifics of the loss and the terms of the policy.

If a loss adjuster identifies fraud and any other issues that could limit liability on the part of an insurance company they may receive a bonus from the company. With a strong record you are most likely to receive raises in wages and promotions from the insurance company you work for.

Author's Bio: 

This article is penned by Lora Davis for Insurance Claim Recovery Support. The company helps insurance holders with services like recovery support. If you are looking for a commercial claims adjuster then too the company will help you.