What is a Loss Assessor?
You should employ the services of a Loss Assessor when you are pursuing a claim with your insurance company. Loss Assessor ensure you get the maximum settlement within the terms of your policy when you are making a claim. If you have an insurance claim it is critical to appoint your own Loss Assessor, as soon as possible, to ensure your interests are protected. Loss Assessor work for you, in interpreting and advising on your policy conditions and options available to you, and not with your insurance company. Your insurance company employ its own Loss Adjusters, either in-house or from an independent company, to represent them and protect their interests. These Adjusters are experienced at dealing with claims effectively and, while they act professionally, their primary interest is the insurance company. They will not prepare and present a claim on your behalf. This is the responsibility of the insured unless you appoint a Loss Assessor. It is quite easy to make a mistake when making a claim if you do not understand the correct steps. On appointment, your Loss Assessor's primary function is to work on your behalf to ensure you do understand these steps and achieve the maximum payout you are entitled to under your policy.
There are many Loss Assessor who adopt various approaches to settling insurance claims. The key criteria you should look for when appointing a Loss Assessor is that they are regulated by The Financial Regulator and that they have the resources and expertise to deal with your claim professionally and promptly.
If you have an insurance claim you should appoint a Loss Assessor immediately as any action you make at the outset of a claim can have serious implications for the eventual outcome. From experience the earlier a Loss Assessor is involved on a claim the greater the benefit for the policyholder.
The fees charged by Loss Assessor are generally based on a percentage of the total settlement figure. The difference a good and competent Loss Assessor can make to the eventual size of a claim more than offsets the fees charged. The majority of Loss Assessor work on a No Win No Fee policy so should your claim be turned down there will be no cost to the Policyholder.