Public Adjuster Bond (Texas)
NFP provides the $10,000 public adjuster Texas bond on the correct surety form. We offer the best rate available and can provide your bond the same day we receive your request. We are a top provider of all kinds of bonds in all 50 states. Adjusters often need bonding in several states.
We deliver hundreds of adjuster bonds yearly and stay current with adjuster bond requirements in 21 states. NFP will provide you with public adjuster bond, independent insurance adjuster bond, and insurance adjuster bonds, as well as many other types of license and permit bonds. We can usually email your bond upon request.
These guarantee that, as a licensed public adjuster, you will comply with Texas State laws and statutes.
Other states also require bonds for licensing insurance adjusters. Others require similar bonds, including independent insurance adjuster bonds. The bond amounts vary by state.
Adjusters plan and schedule the work required to process an insurance claim. They might handle an insurance claim filed after an automobile accident or after a storm damages an insured’s home. Adjusters investigate claims by conducting interviews, reviewing official and medical records, and inspecting property damage to determine liability. Public insurance adjusters may consult with other professionals. The information gathered is then used to evaluate the claim and negotiate for a settlement with the insurance company.
What Does an Insurance Adjuster Do?
An insurance adjuster is a professional who investigates claims on behalf of an insurance company, when a claim has been made on a specific insurance policy. When a claim is made for a personal injury situation, the adjuster may consult medical records and the professionals involved in treatment of the insured. When the claim involves property damage, the adjuster will begin by inspecting the damage, and then review police reports, interview any witnesses, and talk to nearby property owners as well. Once an adjuster has completed the investigation, they will have a good sense of what the insurance company’s liability would be in the situation.
Who Does the Adjuster Work For?
If you are an insured individual and an adjuster is investigating your claim, either for personal injury or property damage, it is well to keep in mind that the insurance adjuster will not be an advocate for you, and certainly does not have your best interests in mind. That’s because they are employed directly by an insurance company, or has been hired by an insurance company as an independent adjuster, for the purpose of conducting a thorough investigation into a specific claim.
There are three main types of professional insurance adjusters — independents, staff adjusters who are one of several employed by insurance companies, and public adjusters who are most often employed by policyholders. The only way you as an insured person can be sure that your best interests are being represented in a claim investigation is to retain the services of a public or independent adjuster yourself, and that person will then become your advocate.
What Is the Process?
The first order of business for an adjuster is to determine that any damage which was caused in a specific event, is actually covered under the terms of the policy. If that proves to be the case, the insurance company would then be responsible for making good on the costs incurred by that damage, as well as any related hardships which have been incurred as a result of the damage. A good example of this would be when a house becomes so badly damaged that it cannot safely be inhabited. In that situation, the hotel costs would be covered under the terms of the policy.
Along with asking seemingly endless questions, an adjuster will also take photos that will be used as supporting documentation for the investigation. Generally speaking, all the following activities are included in the tasks which a professional claims adjuster would routinely undertake:
- Research and assess damage
- Determine who is liable for the damage
- Inform the insurance company of all details
- Investigate all points of the claim on the policy, to include property damage, content damage, building damage and related expenses
- Formulate a comprehensive report on all damages, so that specific dollar amounts can be assigned to financial losses
- Coordinate with contractors or specialists who will be needed to effect repairs or reconstruction.
Why Does an Adjuster Need a Surety Bond?
The job of an insurance adjuster is to make the determination in regards to the amount of loss coverage that a company is liable to cover. They spend their time investigating and putting a dollar amount to the damage caused by a business or individual making the claim. It’s important to come up with an accurate number because both the client’s needs and needs of the company are in the balance. If they do a poor job, both could be forced to cover an unnecessary or excessive loss.
We can assist you with a wide variety of bonding requirements. Again, our bond experts are familiar with the Texas public adjuster bonding requirement, as well as adjuster bond requirements for other states.
We know you have a choice and appreciate the opportunity to earn your business. If you have any questions, please don’t hesitate to call. We love answering questions from our clients and interested parties.