Navigating the complexities of insurance claims can be a daunting task for many policyholders.
This is where the role of a Loss Assessor becomes crucial. A Loss Assessor is a professional who works on behalf of the insured, bringing expertise in construction and insurance matters to ensure a fair and just settlement of claims.
A Loss Assessor represents the policyholder in the preparation and negotiation of an insurance claim.
They are experts in construction, insurance law, and claims handling, making them invaluable allies for policyholders dealing with insurance companies.
The primary role of a loss assessor is to ensure that you, the insured receive the maximum entitlement from the insurance policy terms.
How Loss Assessors can help with your insurance claim
Upon notifying an insurance company of a claim, the insurer appoints a firm of Loss Adjusters to manage the claim on their behalf.
The Loss Assessor then liaises with these Loss Adjusters, effectively removing the burden of direct negotiation from the policyholder.
Whether the claim involves water damage, storm, subsidence, fire, or flood, a qualified Loss Assessor ensures that the policyholder receives the fairest settlement possible.
The key difference between a loss adjuster and a loss assessor lies in representation.
A Loss Adjuster represents the insurance company and aims to minimize the company’s financial outlay. In contrast, a Loss Assessor, working for the policyholder, focuses on maximizing the claim settlement.
They determine the cause of loss, assess the extent of damage, and establish whether the policy covers the loss. They visit the damage site, assess the extent of repairs needed, and prepare a detailed Bill of Quantities for the Loss Adjuster’s review.
The Role of a Loss Assessor in Claims Negotiation
Loss Adjusters, representing insurance interests, often aim to reduce the claim value. They might seek evidence to dispute the claim or offer a lower settlement.
A seasoned Loss Assessor, aware of these tactics, negotiates diligently to ensure a fair settlement for the policyholder.
A Loss Assessor manages every facet of the claim. They initiate the claim process, ensure the appointment of Loss Adjusters, and engage in negotiations.
Their role extends beyond negotiation; they can assist in challenging declined claims or addressing delays and mishandling of claims.
Achieving Optimal Settlements
The ultimate goal of a Loss Assessor is to secure the best possible settlement. They advocate fiercely for the policyholder, leveraging their expertise to ensure a just outcome.
The question for policyholders is how to determine if the settlement offered is comprehensive and fair.
This uncertainty underscores the importance of engaging a Loss Assessor.
Why Use A Loss Assessor?
In addition to the core services, Loss Assessor services often provide additional support such as:
- Detailed Documentation: Preparing comprehensive documentation of the claim, including photographic evidence, detailed reports, and expert opinions.
- Expert Advice: Offering policy terms, coverage limits, and exclusions guidance.
- Repair and Restoration Coordination: Assisting in sourcing reliable contractors and overseeing repair works.
- Support Through the Claim Lifecycle: Offering continuous support from claim initiation to final settlement.
- Communication and Updates: Keeping the policyholder informed throughout the process, ensuring transparency and understanding.
Once a claim has been notified to the insurance company, they will appoint a firm of Loss Adjusters to handle the claim on their behalf.
A Loss Assessor will then deal with a Loss Adjuster so you don’t have to.
Whether you have a claim relating to escape of water, storm, subsidence, fire or flood, a highly qualified Loss Assessor can work for you in making sure that you receive the fairest and best settlement available.
The Role of a Loss Assessor in Summary
A certified Loss Assessor manages every aspect of your claim. First and foremost, they will report your claim to the insurance company and make sure a firm of Loss Adjusters is appointed.
He or she will then meet the representatives of the insurance company or their hired Loss Adjuster and undertake the negotiation process with them. If your claim has been declined, a Loss Assessor may also be appointed by an insured to assist in helping fight the case or even if a claim has been delayed or mishandled.
Ultimately, the role of the Loss Assessor is to get you the best possible settlement available and will fight incredibly hard on your behalf to ensure this happens. How will you, the policyholder know if you have received a full and fair settlement? Don’t leave things to chance, call us today on 01-4979-432.