Public adjuster: A professional who represents policyholders in the claims process, helping policyholders navigate the often complex and confusing process of filing and settling insurance claims, and working to ensure that policyholders receive the maximum settlement for their claim.
Contingency basis: A method of payment for public adjusters, where the public adjuster only gets paid if the policyholder receives a settlement from the insurance company. The fee is a percentage of the settlement, and is agreed upon by the policyholder in advance.
Residential claims: Claims related to damage to a policyholder’s residence, such as a house or apartment.
Commercial claims: Claims related to damage to a policyholder’s commercial property, such as a business or other type of commercial building.
Catastrophic claims: Claims related to damage caused by natural disasters, such as hurricanes, tornadoes, floods, earthquakes, etc.
Policyholder: An individual or business that holds an insurance policy.
Insurance company: A company that provides insurance coverage to policyholders.
Coverage: The amount of protection provided by an insurance policy.
Exclusions: Situations or events that are not covered by an insurance policy.
Limits: The maximum amount of coverage provided by an insurance policy for a specific event or type of damage.
Claim: A request for payment or reimbursement made by a policyholder to an insurance company for a loss or damage covered by the policy.
Adjuster: An individual employed by an insurance company to assess the damage and determine the cost of repairs or replacement.
Settlement: The amount of money paid out by an insurance company to a policyholder in the event of a claim.
Additional living expenses: Any additional expenses incurred by the policyholder as a result of the damage to the property, such as temporary housing or meals.
Business interruption: Loss of income and additional expenses that a business may incur as a result of the damage to the property
Appeal: The process of challenging a denied claim or disputed settlement.
Court: A legal forum where disputes between parties are resolved.
Here is a list of ten useful sites for a residential or commercial policyholder to visit:
National Association of Public Insurance Adjusters (NAPIA): https://www.napia.com/ – This is a professional association for public adjusters that provides resources, education and representation for its members.
Insurance Information Institute (III): https://www.iii.org/ – This is an independent, nonprofit organization that provides information and resources on insurance-related topics.
National Flood Insurance Program (NFIP): https://www.floodsmart.gov/ – This is a government-backed program that provides flood insurance to policyholders.
Federal Emergency Management Agency (FEMA): https://www.fema.gov/ – This is a government agency that provides resources and assistance for individuals and communities affected by disasters.
International Association of Firefighters (IAFF): https://www.iaff.org/ – This is a professional association for firefighters that provides resources, education and representation for its members.
National Fire Protection Association (NFPA): https://www.nfpa.org/ – This is a nonprofit organization that provides resources and information on fire safety and protection.
Insurance Institute for Business & Home Safety (IBHS): https://www.disastersafety.org/ – This is a nonprofit organization that provides resources and information on disaster preparedness and property protection.
American Institute of Architects (AIA): https://www.aia.org/ – This is a professional association for architects that provides resources, education, and representation for its members.
National Association of Home Builders (NAHB): https://www.nahb.org/ – This is a professional association for home builders that provides resources, education, and representation for its members.
National Oceanic and Atmospheric Administration (NOAA): https://www.noaa.gov/ – This is a government agency that provides information and resources on weather, climate, and natural disasters.
