HELPFUL INFORMATION
When dealing with an insurance claim, it is normal practice for the loss adjusters appointed by the insurance company to determine if the claim is valid; and to then report back to the insurer regarding the amount of damage caused and approximate cost to restore the property back to its pre-loss condition. Insurance companies employ the loss adjusters to deal with the insurance claim settlement and as their title suggests they ‘adjust’ the value of an insurance claim.
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Having researched the historical events it is valid to statement that in most cases the adjustment is in a downwards trend mainly due to the fact that it is in the insurance company's interest to reduce liability and save as much money as possible. In most cases the policyholder is at a disadvantage as they have no experience in dealing with an insurance claim, whereas the loss adjuster may have many years’ experience, and have handled 100’s if not 1,000’s of similar claims. Do you think that is fair to the policy holder?