If your property has suffered from major damage, you may need help from independent loss assessors to manage your insurance claim. Damage can be caused by a fire, flood, or even a leak. Another type of damage could be caused by impact. This could be down to a vehicle crashing into your property.
If you are in the unfortunate situation of having to claim off your insurance, your insurer will send out one of their loss adjusters. The main objective of this is to calculate their liability. If you have a legitimate insurance claim then they could make you a settlement offer if you are looking to settle in cash.
If you are looking to have your property repaired through your insurer, they may require you to ask around for a couple of building repair quotes. They may then compare these quotes and appoint the one which they consider is the best value for money.
Insurers Loss Adjusters or Independent Loss Assessors?
It is worth taking note that generally loss adjusters will be working on behalf of the company that appoints them. In this case that would be your insurer unless you appoint either independent loss adjusters or your own loss assessors.
So why would you even consider appointing a loss assessor when your insurance company are obliged to settle the claim for you? Isn’t that the whole point of having an insurance policy in place?
A loss assessor can help to ensure that your insurance claim runs smoothly. Loss assessors are available to help ensure that you are paid your full entitlement. They can manage your insurance claim on your behalf.
Negotiations Managed on Your Behalf
Most of all they can negotiate on your behalf. Let’s face it, if your insurer offers you £75,000 to settle the claim. How do you know it is enough to cover all your losses? Wouldn’t it make sense to appoint loss assessors who would have in-depth knowledge of the full scale of costs that are needed?
Most property claims are usually far more complex than you would imagine. There is more to a claim than just the property damage. You may have lost many of the contents of your property such as furniture of electrical goods.
You may need somewhere to stay whilst your insurance claim is being settled and your property repaired. A loss assessor will be able to arrange all this for you. If your business premises have been damaged, the insurance claim may be even more complex.
A loss assessors job would be to manage your claim entirely on your behalf to ensure that you receive all that you are entitled to. They will negotiate with your insurer and fight your corner.
Most loss assessors charge a small percentage of the final settlement figure as their fee. There are also some loss assessors who will waive their fee if you appoint one of their recommended building contractors to repair your property.
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