Insurance claims are never fun. In fact, generally if you are having to make an insurance claim, then something has already gone wrong and you are in the process of trying to get it fixed. The problem is that insurance and claims are not simple and quite often you will find yourself jumping through hoops trying to ensure all the right things are done and in the right order.
You will be discussing your situation with people whose jobs you don’t really understand. Then when someone comes along talking about loss assessors and loss adjusters, it can get even more confusing.
Well after all, aren’t they the same thing?
Well, no, not really and there are some key differences between the two. Simply put, loss adjusters are appointed by your insurance company and represent their interests. Whereas a loss assessor works for you, and solely for your benefit. So let’s look at what each one does and how they may help you.
Of course, insurance companies won’t just pay out any amount to settle a claim and the higher the cost, then the more difficult it becomes to justify and so the more hoops you need to jump through. So, when the claim you are submitting is substantial, as it would be on, say, a house insurance claim, then they will very likely bring in a loss adjuster to investigate your case.
Loss adjusters are claims specialists responsible for establishing the cause of the loss and if it is covered by your insurance policy. In some cases, they may also bring in forensic experts, who are very unlikely to be regulated by the FCA, to investigate and potentially discredit your claim.
They will then present a report to your insurer along with their reasons to accept or reject the claim and recommending an amount that they calculate to be a fair settlement if applicable. Any settlement will also be based on their perceived validity of your claim and potentially a very limited investigation of what can be seen. Think of them as the eyes and ears of your insurance company.
The problem is that they are coming at this from your insurers point of view and so will often actively work to secure the smallest possible scope and lowest possible settlement amount.
They are not really interested in helping you – they only want to provide the insurance company with enough information or evidence to limit the amount paid out. That might sound very cynical, but sadly a lot of the time it is true and that is why you need a loss assessor in your corner.
A loss assessor is basically the opposite of a loss adjuster. They are there to fight your corner and negotiate claims on your behalf. A loss assessor is instructed by you, the policyholder, and their job is to handle your insurance claim for you.
They will handle every aspect of your claim, from the paperwork to the more practical bits. Loss assessors are excellent negotiators, are trained in quantifying claims, and have a thorough understanding of how insurance companies work – and how to get the best result for you. In short, they are the guy you want in your corner against the insurance company.
You can engage a loss assessor for all sorts of loss-related insurance claims, from property damaged by fire, flood, storms or subsidence, or if a burglar has robbed you of an irreplaceable item.
Generally, it pays to bring in a loss assessor as early in the process as you can, so they can balance any loss adjusters’ activities and negotiate on your behalf. Plus, if you appoint a loss assessor after the loss adjusters report has been submitted, it may be more difficult to challenge any decisions made by the insurance company.
I am very happy to say that we fall into the second category. My Property Claim works for policyholders handling their property claims to get the fairest outcome from their insurance company. We can can even introduce the experts, specialists and trades needed to fully reinstate their property.
So not only will we help get the settlement you are entitled to, we will also make sure you are not left struggling to fix any damage on your own.
We provide FREE surveys and FREE estimates including mitigation and reinstatement and can take care of every aspect of your property insurance claim. Our personalised claim support service is free when our introduced team of professionals and network of trades are used to carry out the authorised work and your only outlay will be any applicable policy excess stated in your insurance policy.