Role Of Insurance Assessor In Claims
What is an Insurance Assessor?
An insurance assessor – also known as a loss assessor – is an independent professional who represents policyholders in claims against their insurance company. They manage their client’s claim throughout the claims process and negotiate a settlement on their behalf.
Loss assessors are the only party that will work in the best interests of the claimant throughout the claims process. They never work on behalf of insurance companies and their primary goal is to secure clients the best settlement.
Once the claimant receives a satisfactory settlement, the loss assessor commonly receives a percentage of the final sum as payment.
Insurance Assessors vs. Loss Adjusters
The difference between a loss assessor and a loss adjuster is that a loss adjuster works on behalf of the insurance company to review and contest the policyholder’s claim.
An insurance company’s loss adjuster will gather evidence to determine whether the insurance company is liable to pay out on insurance policies to policyholders.
Loss adjusters do not have the best interests of the policyholder at heart and will build a case to minimise the liability of the insurer.
Appointment of a loss adjuster often means the process of claiming is due to become more difficult and contentious, therefore you’ll need assistance of your own.
Loss assessors help to counteract the efforts of a loss adjuster to reject your insurance claim. It’s important to appoint a loss assessor in order to get the best deal from your claim when a loss adjuster is involved.
Benefits of Appointing an Insurance Assessor
Loss assessors work to determine the full extent of damages and gather evidence to build a case. Next, they present their report to the insurance company to support their client’s claim. Their extensive experience of negotiating with insurers means policyholders are more likely to get the deal they deserve.
Not only could this increase the amount in your settlement, but it also takes all the stress of managing the claim off of the client. No need for dealing with paperwork or communicating with insurers; the loss assessor will handle the process on your behalf. You can get back to living your life and count on your loss assessor to manage your insurance claims.
Additionally, some loss assessors will offer comprehensive claims management services to assist their clients with other matters.
Here are some of the ways a loss assessor could work on your behalf throughout the insurance claim process:
Hiring Surveyors
Some loss assessors will assist in organising specialist surveyors to assess the extent of property damage. This is especially valuable in cases where property damage is extensive and complex, such as a fire, flood or theft.
Temporary Relocation
If a client’s property has been damaged in such a way that it threatens their health and safety, many loss assessors will organise alternative accommodation.
For example, if there was a flood or fire at the property, there could be structural problems threatening the safety of inhabitants. This would render it uninhabitable and be cause for relocation.
Securing the Property
In the event that property boundaries are not secure, a loss assessor will arrange security services to supervise the premises. It is possible that these expenses could also be included in the claim on behalf of the policyholder.
Organising Repairs
Commonly, a loss assessor will manage coordinating emergency repairs or clean-up to damaged property so that the client doesn’t have to. These expenses will then be included in the loss assessor’s report to negotiate in the claim, if possible.
Negotiating Interim Payments
In the case of larger insurance claim, loss assessors can negotiate interim payments for the policyholder. These are smaller sums paid to policyholders before the final pay-out while the claims process is resolved.
The value of interim pay-outs cannot be understated, especially in the case of a business property claim where property damage could directly impact your livelihood.
When to Appoint a Loss Assessor
There are a number of scenarios where the help of a loss assessor could greatly increase your chances of a successful insurance claim. Here are a few signs that it’s time to get help with your insurance claim process:
Larger Insurance Claim
One instance where a claimant should appoint a loss assessor is when they have experienced extensive and costly damages. These kinds of insurance claims can take a lot of time and energy to resolve.
Hiring a loss assessor allows the client to hand over the stress of claims management to experienced professionals.
Insurance Company Rejects Your Claim
Another reason to hire a loss assessor is that the insurance company is refusing to pay out following your claim. Oftentimes, insurance companies will contest whether the incident you are claiming for is covered under your insurance policy.
This is where an independent loss assessor can help assess whether you are likely to make a successful claim and receive a settlement. There is no benefit in negotiating at length with your insurer if your insurance policy does not cover the damages.
Unsatisfactory Settlement
If you were successful in the claim process, but were dissatisfied with the settlement amount, a loss assessor could help. Should the loss assessors decide that you could be entitled to a better insurance settlement, they can represent you in your insurance claim.
Next, the loss assessor will present their evidence to the insurance company, attempting to improve your final claim amount.
Your Insurer Appoints a Loss Adjuster
In the event that your insurance company hires a loss adjuster to manage your case, it’s best to respond in turn by hiring a loss assessor.
When loss adjusters are appointed, it’s a sign that the insurer hopes to avoid paying out to the policyholder. An independent loss assessor will deal with the loss adjuster directly to ensure your are paid the proper amount.
Help With Your Insurance Claims Process
Insurance assessors, or loss assessors, are crucial in representing your interests during the insurance claims process. A loss assessor could be the difference between receiving proper settlement and an unsuccessful claim. This is especially true in larger claims and in the event that a loss adjuster is assigned to your case.
Besides the financial stakes in an insurance claim, the process itself can be incredibly taxing and drawn out. Claims require countless hours dealing with phone calls, emails and paperwork. All this while you’re faced with the distressing reality of damage to your home or business.
Appointing loss assessors such as Claimrite assessors can relieve you of the weight of claims management and support you through the claims process. This makes it easier for you to resume normal life and get your business running again.