Insurance

admin ♦ April 12, 2011 ♦ Leave Your Comment

A Loss Adjuster Explained

Life is unpredictable. Anything can happen at any point of time. Some of us do things with the best intentions in mind, but it may not always go right. For example, let us consider the case of a shopkeeper who sells electronic goods. Things don’t always go smoothly as expected. It is better to be ready for different kinds of surprises and shocks. What if, the shop is attacked by burglars? The goods that are stored inside the shop might get stolen. In that case, what is the shopkeeper supposed to do?

Whom should he approach? If the shop is insured, it makes it a lot easier for the shopkeeper to get the compensation for all the stolen goods. Who decides what amount the shopkeeper must get? This is done by the loss adjuster who works for the insurance company. The Loss Adjuster works in the interest of the company and not in the interest of the shopkeeper. The loss assessor estimates the amount that the insurance company will pay the shopkeeper as compensation.