Understanding The Role Of Public Insurance Adjusters In Missouri

A public insurance adjuster in Missouri is a person or corporation that engages in the adjustment or settlement of losses that relate to lines of insurance. They are hired by customers to settle insurance claims and are not employed by insurance companies. Public adjusters are licensed by the Missouri Department of Commerce and Insurance. To become a public adjuster in Missouri, one must file Form 375-0111: Application for Public Adjuster and pass the Missouri public adjuster examination. It is important to note that Missouri is one of 16 states that do not license insurance adjusters, so Missouri residents seeking a license must obtain a designated home state (DHS) license from another state, such as Florida or Texas.

Public adjusters in Missouri must be licensed

A DHS license allows you to declare a licensing state as your home state. You will go through that state's licensing process, testing, and compliance regulations, and their license will act as your resident or home state license. Once you hold a DHS license, you can use it to get reciprocal license privileges, making you more employable and allowing you to adjust claims in other states.

To become a public adjuster in Missouri, you will need to file Form 375-0111: Application for Public Adjuster with the Missouri Department of Commerce and Insurance and check the "New Application" option. The application fee is $100, which needs to be paid after you have passed the Missouri public adjuster examination. The examination is administered by Pearson VUE and consists of 50 scorable questions. It is important to note that a $10,000 corporate surety bond or a $1,000 bond is required in conjunction with your application.

They can help with insurance claims relating to fire, water, wind, hail, etc

A public adjuster is any person or corporation that engages in the "adjustment or settlement" of losses that relate to specific lines of insurance. In Missouri, public adjusters can help with insurance claims relating to fire, water, wind, hail, or any other type of loss. They are independent insurance adjusters that customers can choose to hire to settle their insurance claims.

Public adjusters are knowledgeable about insurance policy language and requirements, allowing them to correctly interpret and apply them to damaged private and commercial structures in Missouri. They can help navigate the complexities of a water damage claim, a fire damage claim, or any other insured loss. They have the resources, training, and contacts to get the claim settled promptly and accurately.

For example, a public adjuster can assist in reopening closed claims that were denied or underpaid, turning small payouts into larger settlements after a thorough investigation of the facts and a compelling interpretation of policy coverage. They can also review claims and inform policyholders when the insurance company's decisions are reasonable, providing transparency and assurance.

It is important to note that not every insurance claim requires hiring a public adjuster. However, when unfair treatment by your insurance carrier is suspected or confirmed, or when your claim is complex, a public adjuster can provide valuable assistance. Their expertise lies in ensuring that you receive the full compensation you deserve while guiding you through the often confusing process of dealing with your insurance company.

They are independent adjusters, not hired by insurance companies

A public adjuster is any person or corporation that engages in the "adjustment or settlement" of losses that relate to lines of insurance. They are independent insurance adjusters that customers hire to settle their insurance claims. Public adjusters are not hired by insurance companies. Instead, they are chosen by customers to advocate for their interests.

Public adjusters assess the damage to property and evaluate what monetary value the insurance claim should carry. They help customers navigate the complexities of insurance claims, such as water damage or fire damage, and ensure they receive fair and timely settlements from their insurance companies. This is especially useful when a claim has been denied, underpaid, or unfairly treated by the insurance carrier.

In Missouri, public adjusters are required to obtain a license by filing Form 375-0111: Application for Public Adjuster with the Missouri Department of Commerce and Insurance. However, Missouri does not offer a resident adjuster license, so individuals seeking to become licensed public adjusters in the state will need to obtain a designated home state (DHS) license from another state, such as Florida or Texas. This DHS license allows them to operate as adjusters within Missouri and provides the advantage of reciprocity with other states.

It is important to note that not all insurance claims require hiring a public adjuster. However, when there is a strong suspicion or confirmation of unfair treatment by the insurance carrier, or when the claim is complex, a public adjuster can provide valuable expertise and assistance.

Missouri does not offer a resident adjuster license

If you are a resident of Missouri and are interested in becoming a licensed insurance claims adjuster, you may be surprised to learn that Missouri is one of 16 states that do not license insurance adjusters. This means that you can legally adjust claims in your state without a license, but only in your state. While this may be convenient for those who wish to work solely in Missouri, it presents some challenges for those who are serious about a career as a claims adjuster.

Firstly, many employers will only deploy licensed adjusters. This is because they have clients (insurance carriers) all over the country, and they need adjusters who can help wherever there is a need. Secondly, most adjusters want out-of-state licenses that will enable them to work throughout the entire country. For example, adjusters may want to work on claims related to hurricanes in the Gulf, hail in the Midwest, or snow and ice in the north. Therefore, obtaining out-of-state licenses can help maximize income potential by allowing adjusters to work on a wider range of claims in different states.

So, how do you get a license in a state that doesn't offer one? This is where the Designated Home State (DHS) license comes in. A DHS license allows you to declare a licensing state as your home state. You will go through that state's licensing process, testing, and compliance regulations, and their license will act as your resident or home state license. Once you hold a DHS license, you can use it to apply for reciprocal license privileges, making you more employable and allowing you to adjust claims in other states. Both are vital if you want to have a long and successful career as a claims adjuster.

There are several states that offer DHS licenses, including Florida, Texas, and Indiana. However, Florida is often recommended for several reasons. Firstly, Florida has a simple and fast application process, a relatively short insurance adjuster exam, and great reciprocity. Additionally, Florida is among the states with the highest likelihood of weather-based catastrophe claims, which is often the main entry point for new adjusters. Obtaining a Florida DHS license typically involves completing a 40-hour pre-licensing course and passing the included exam. No additional coursework or testing is required.

In conclusion, while Missouri does not offer a resident adjuster license, residents seeking a career as insurance claims adjusters can obtain a DHS license from another state, such as Florida, to work both within Missouri and in other states. This will enhance their employability and open up a wider range of career opportunities.

A Designated Home State (DHS) license is required to operate outside of Missouri

Missouri does not license insurance adjusters. For Missouri residents wanting to become a licensed independent adjuster, a Designated Home State (DHS) license is required to operate outside of Missouri. A DHS license is a requirement by most employers and enables you to apply for reciprocal licensing privileges. This means that you can apply for other state licenses without having to meet their education and testing requirements.

A DHS license allows you to use a licensing state as a substitute for your home state. It is a simple solution for residents of non-licensing states, allowing them to claim the same privileges as residents of the licensing state. For example, if you live in Missouri, you can adjust claims there without a license, but you cannot work on insurance claims in other states. Obtaining a DHS license allows you to work on claims in other states, which is essential for working on catastrophe claims and increasing your job opportunities.

There are several options for obtaining a DHS license. Texas and Florida are two of the most popular choices, as they offer online courses and have a wide acceptance under reciprocity agreements. To obtain a DHS license from Texas or Florida, you must complete a pre-licensing course and pass the state exam. The pre-licensing course covers a range of topics, including insurance policies, adjuster ethics, and state-specific laws and regulations. After passing the exam, you will need to submit your application for licensure, including fingerprints and a background check, to the appropriate state's Department of Insurance.

Obtaining a DHS license is a valuable step for Missouri residents seeking a career as an independent insurance adjuster. It allows them to work outside of their home state and provides more job opportunities, even in states that don't mandate licensing.

Frequently asked questions