16:09
Just got my Michigan rejection
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Simple English definitions for legal terms
insurance adjuster
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A quick definition of insurance adjuster:
Insurance Adjuster: An insurance adjuster is someone who figures out how much money an insurance company should give to someone who has had something bad happen to them, like a car accident or a house fire. They help make sure that the person gets the right amount of money to fix or replace what was damaged or lost.
A more thorough explanation:
An insurance adjuster is a professional who assesses the value of a loss to the insured and settles the claim against the insurer. They are responsible for investigating insurance claims, determining the extent of the damage, and negotiating settlements with the policyholder.
For example, if a homeowner experiences a flood in their home, they would file a claim with their insurance company. An insurance adjuster would then be assigned to investigate the claim, assess the damage, and determine the amount of compensation the homeowner is entitled to receive.
Another example would be if a car is involved in an accident. The insurance adjuster would investigate the accident, assess the damage to the car, and determine the amount of compensation the policyholder is entitled to receive.
Overall, insurance adjusters play a crucial role in the insurance industry by ensuring that policyholders receive fair compensation for their losses.