An Insurance adjuster will determine if the items are work related items or personal items by first going over the policy. The policy must be read and analyzed in a logical and thorough manner. The insurance adjuster needs to know what coverage is available to the insured person.
Before an investigation begins, the insurance adjuster has to establish or confirm the coverage. A complete policy is required for this. The policy can be recreated from the declarations page. The insurance adjuster has to determine the policy limitations and the perils insured against.
The insurance adjuster will have to read the loss notice. The loss notice tells the adjuster:
- when the loss occurred
- the type of coverage the insured has
- the type of loss
- the insured's name, address, and telephone number
- the agent's name and address
- the location of the loss
- who to contact and how to contact him or her
- whether there is anything to which the adjuster should give special attention
The adjuster has to take a recorded statement form the insured and any and all witnesses to the incident that caused the loss. The adjuster also has to obtain a proof of loss. The adjuster has 60 days to submit a sworn proof of loss after the date of the loss. The sworn statement is also required by the insured.
The adjuster has to obtain all relevant documents. The materials that are necessary to obtain are the
- documents establishing title to real property
- the last physical inventory
- receipts, invoices, purchase orders, and other evidence of purchase and ownership
- the general ledger of the business
- the banking records of the business for at least the 6 months before the loss
- any other document that might be relevant or material to the investigation