The policy is the contractual agreement between the Insurance Company and the Property Owner. As the adjuster it is necessary to understand the policy and what it covers in order to properly adjust and pay for the damages.
Becoming well-versed at interpreting the policy ensures sound coverage decisions which lead to assignment longevity. Most importantly, a knowledgeable adjuster guarantees the Property Owner will have a positive and transparent claim experience.
Loss Type - Interpret the policy as it relates to the Cause of Loss.
Covered Property - Interpret the policy as it relates to the Coverage Type.
Compare Carriers - Read and interpret policies from various Insurance Carriers.
Ethics - Understand policy ethics and timelines.
Riders - Interpret Endorsements and Exclusions and how they affect the policy.
Settlement - Explain the policy to your policyholder.
Coverage Determination - Allow or deny coverage based on the parameters of the policy.