Theft Insurance Adjuster and Theft Insurance Claims

Many people wonder if a theft insurance adjuster is right for them. What exactly is a theft insurance adjuster? Is it the same as an auto insurance adjuster? It is important to understand the benefits you will get by working with an adjuster to complete your own claim to ensure your final settlement is the amount you are owed, and not the amount the insurance company simply hopes to pay.

Evaluating a Theft Insurance Claim

As insurance adjusters, we will visit your home or business to evaluate your theft insurance claim. We will look at your policy and the details of your theft. In many cases, the insurance company will then make an estimate of how much money is needed to settle your claim. Once you agree on the amount of money, this is the amount the company will send you, often in a one-time payment, but possibly in two amounts: the initial “valuation” payment, and a second payment to cover the difference once you replace the items. It is important to have this information available when the adjuster arrives.

Going to Court

If you decide to go to court, you must be prepared. You will need a list of all of the stolen items, as well as their values – both what you spent, and the replacement costs. You should also have copies of any pictures you have taken of the items, serial numbers, any identifying marks, and more. If you have receipts or invoices for anything that was stolen, make sure you keep these, too. As adjusters, we will be looking to establish what the extent of the theft actually is.

When you are in court, be calm and polite. Do not become impatient or angry. Remember, you are there to settle the claim. Be prepared to show that you have proof that the theft actually occurred. 

Arbitration

If you are unable to settle the claim with your insurance company but would rather avoid the courts if possible, you can choose to go to arbitration. Arbitration is where you can work out an agreement between you and your insurance company directly, without the courts involved. If you decide to go to arbitration, remember to carefully read over the details of the agreement before signing. This is especially important if the other party is calling your insurance agent to dispute any part of your coverage. Arbitration is more expensive than filing a lawsuit, but it can save you lots of money in the long run and allows you to retain control over the final decisions regarding your property.

If you need legal advice, your best bet is to hire an attorney. An attorney can partner with the adjuster to get the attention of your insurance company at court, making them more willing to settle the claim.

Claim Denial

If your claim is denied, discuss your next step with your insurance company. If your provider is still unwilling to pay for your theft losses, you will then need to take your claim to court. Remember to take pictures and make copies of any receipts you may have.

If you can’t settle the claim with your insurance company, contact a theft insurance adjuster. Theft insurance adjusters make hundreds of thousands of dollars a year working independently. They know exactly how to deal with insurance companies and can often settle your claims quickly and inexpensively.

When Theft or a Disaster Strikes

When theft or a disaster strikes, in the form of an accident, fire, flood, or any other unforeseen event, the owner sets about taking stock of the damage. If the damages are covered by insurance, they then call up the insurance company to make a claim. But more often than not, policyholders do not seem to have a clear idea of what the policy says. The insurance companies are also hesitant to take the claim at face value. So the company sends over their claim adjusters to evaluate the damage. The claims adjuster may choose to report that the damages are not substantial or not covered and that the claim is not valid or is not worth the amount that the claimant asked for. Public insurance adjusters are your saviors in such situations.

Public insurance adjusters are trained professionals who are hired by the claimant or the policyholder to uphold their own interests. They evaluate the loss that has occurred keeping the best interests of the policyholder in mind. They perform a thorough study and put forward a very detailed claims settlement report to the insurance company. Public insurance adjusters work for policyholders and not the insurance company, therefore they have the best interests of the clients at heart and make sure that the claimants get their due from insurance companies.

Attention to Detail

Public adjusters take care of a lot of details regarding the claim. They study the policy in depth in order to find out what are the specific losses that are covered; they extensively research the damages that have occurred and put a fair value on the financial loss that has resulted. After the detailed study, they make a claim on behalf of the client to the insurance company. Once the claim settlement is put forward, there will be negotiations between the public insurance adjusters who work for the client and the company’s own claims adjusters. This is followed by reconciliation where both parties decide on a certain amount as compensation.

Hiring a public adjuster makes a lot of sense, especially in a time of high stress such as after having things stolen from you after a break-in or robbery. As public adjusters, we are experienced in dealing with various situations. We understand the pain and emotions of the claimant in these stressful situations. As efficient public adjusters, we shield the client from the stress of the damage and the tedium of paperwork as well as ruthless negotiations with the insurance company. Usually, adjusters are paid a percentage of the amount that is obtained in the negotiation process, so rest assured they have the best interests of the client in mind.

Typically, public adjusters like the team at Hope Public Adjusters are hired soon after theft or loss has occurred. If the claimant does not answer questions to satisfaction, this will negatively impact the settlement amount and the asset owner will be at a loss. 

Hope Public Adjusters has the experience and resources you need. Call today to schedule an appointment to review your theft damage.