What Is A Loss Assessor And How Do They Affect My Claim?
Just as Insurance companies appoint loss adjusters to handle large claims on their behalf with the objective of reaching a fair settlement with the policyholder, private individuals can appoint loss assessors to negotiate a fair settlement with loss adjustors. Loss assessors are like loss adjustors but instead of working for the Insurance Company they work for the policyholder.
If the policyholder feels that the settlement figure isn’t fair and that the decisions made by the loss adjustors and the insurance company aren’t fair or just, they can ask loss assessors to assess the damage on their behalf and increase the value of the settlement.
When should you appoint a loss assessors
- If you believe you have been treated unfairly by the loss adjustors and insurance companies
- If you have a big domestic claim where the value of the damage to contents exceeds £20k
- If you are prepared to play the waiting game as appointing a loss assessor will no doubt extend the claim cycle and take longer to negotiate
- If you have a large commercial claim appointing a loss assessor is a necessity rather than an option
Most claims are settled fairly and amicably by loss adjustors and Insurance companies. In our experience this is the case most of the time but there are situations where appointing a loss assessors is a good idea.
Our advice is to give the loss adjustors and Insurance company the time to offer a settlement and if you cannot agree a settlement then appoint a loss assessors. Please note that their fees can either be a flat cost of a percentage of the overall settlement.