What is a loss assessor?
A loss assessor is somebody who works on behalf of the claimant to ensure that they get the best possible cash settlement within the terms of their insurance policy. In order to avail of a loss assessor’s service you have to have a current insurance policy.
They are independent and work for you alone. They generally work on a no win, no fee basis and when they do succeed their fee is usually a percentage of your total settlement offer, this in turn makes your loss assessor work even harder for you.
So why hire a loss assessor when making a claim?
Your insurance company makes its money from betting that its customers don’t put in a claim. The last thing they want to do is pay out more money than they have to for any insurance claims made. They use their insurance loss adjusters to try to ensure that they pay out as little as possible. This is not to say that Insurance companies are bad people, but they are a business after all. They are obligated to put their shareholders first.
They represents you after you have made a claim. Or better yet, contact them before you put your claim in. It is their job to help you get the best settlement within the terms of your insurance policy. The loss assessor speaks the same language as your insurance company and appointed loss adjuster. This helps you avoid any loopholes, traps or misunderstandings that may arise during the course of your claim and potentially affect the outcome. And that’s why often the best thing that you can do is to use your own insurance loss assessor to negotiate with them.
Insurance policies often require that the insurance company be notified of the claim within a short time frame. This however does not apply to the insurance company when making their pay out. There is no pressure on them to complete investigations or settle a case. Your assessor can help push this process on. These delays can put a strain on you, the claimant, both financially and mentally. While it might difficult for you, due to work or family commitments, to apply this pressure, your loss assessor’s job is to do these follow ups for you.
What is the difference between a loss adjuster and a loss assessor?
Don’t let the similar names fool you. The loss assessor and the loss adjuster are two completely different creatures.
The assessor is independent and is hired by you. He works for you and you alone. The adjuster on the other hand works for the insurance company. Their interests come first and he spends his time trying to pay you less on your claim. They work within the terms of your policy to get you a fair settlement. An adjuster is not obligated to tell you additional cover that you may have while the loss assessor works at trying to get you everything you are entitled to.
The easiest way to illustrate the difference is to give you an example. You have a fire in your home. Everything on the ground floor is destroyed and major works need to be carried out to make your home habitable again.
The loss adjuster will put through your claim for you, stating that there is structural damage and water damage to the ground floor and your contents. He is not required to state anything more than that. The assessor on the other hand may point out a few other things to you, the water damages in places that you hadn’t thought of and in fixtures and fittings. Smoke damage upstairs and the smell that goes with it. Maybe some of the joists have been weakened or damaged and need urgent attention and he may also point out problems that might occur further down the line.
Your assessor will go through your policy for you to see if there is anything more you are entitled to. The loss assessor will ensure that your claim is handled as speedily as possible to help you to get back to normality with as little disruption as possible.
Loss assessors not only work for individuals but businesses and organizations too. They save you time, money and stress. A loss assessor is a good investment when it comes to making a claim.