An insurance adjuster has many jobs, but the main one is figuring out for the policyholder what exact compensation they will be paid. Today, insurance is a very broad field with many different types of insurance, each with its own rules, financials, and specific policies. Being an insurance adjuster is a field that is in high demand. They will generally provide their services in insurance companies that are considered large property-liability. Some work in insurance agencies and banks. Their primary responsibility is to set and finalize the amount of the claim to be paid to the policyholder, but some may work in the fields of car accidents, property damage, or for those who are injured in other accidents.

In insurance claims, the customer has lost his property and assets in the event of theft, accidents, fires and more. The insurance adjuster will visit the client who has the claim, known as the claimant. It is the adjuster’s job to get all the details of the incident. If it is an accident, the adjuster will need to talk to witnesses and consult with the police to make sure there is no question as to who was at fault and who was not. They will also look at medical records to make sure the accident claim is genuine.

If there is damage to the property, the insurance adjuster will have to inspect the property to see how much damage was done and then decide how much the company is responsible for payment. They should also check policy documents, claim forms and see if there are any transactions that may show attempted fraud by the claimant. The adjuster may also be required to negotiate a settlement of the claim and if they cannot reach an agreement with the claimant, they will take the matter to court. It is important that the settlement administered by the insurance adjuster be fair to both the claimant and the company. The adjuster has to document all records, procedures, and investigations for future reference.

There is no formal education to become an insurance adjuster, but you do need an understanding of how insurance works and a high school diploma. Many of the states require you to obtain a license, but it will vary from state to state. If they must be licensed, they will need to take a written exam and then work small jobs under the supervision of a licensed insurance adjuster before they can work on their own.