Advice

No More Mistakes With A Private Loss Adjuster

NO MORE MISTAKES WITH A PRIVATE LOSS ADJUSTER

Private Loss Adjusters Handle Complex And Substantial Claims

Insurers use Private Loss Adjusters to assess and report on the most complex and substantial insurance claims. Such claims are particularly difficult to manage and settle, thus a third impartial party - private Loss Adjusters, are hired by insurance companies to expertly investigate the circumstances surrounding the claim. But can private Loss Adjusters be trusted to remain impartial, when their interests lie with the insurer who employs them? It is true that mistakes can be made by private Loss Adjusters and with private Loss Adjusters if you are unaware of the what, why, and how of insurance claims. To reach a fair and correct settlement it is vital you understand who private Loss Adjusters are, along with the biggest and most common mistakes you can make with private Loss Adjusters. Crucially, we tell you how to avoid them.

Who Are Private Loss Adjusters?

Private Loss Adjusters are professionals in the field of insurance; they assess, evaluate, and report on claims damage. They also verify the amount, if any, an insurance company should award. They work independently and their work ought to remain impartial. However, most private Loss Adjusters work for insurance companies. They are typically hired to assist with claims that are particularly complex and/or costly. Their success is too often determined by insurance companies; based upon their ability to profit and interest the insurer rather than the policyholder. Sadly, this too often means policyholders are left to pick up the pieces and forfeit a hefty bill.

The Biggest Mistake With A Private Loss Adjuster

The biggest mistake you can make with a private Loss Adjuster is to fail to take charge of your claim. When a Loss Adjuster is appointed to your claim, they can take over with their authority, assessments and evaluations. If you fail to question what they’re doing and why, you could leave yourself in a vulnerable position without your point of view taken seriously, compromising the success of your claim. It is crucial that you remain polite and cooperative with the Loss Adjuster and your insurance company throughout the process. But you also need to question their evaluations, keep them accountable, and understand your rights as a policyholder. Remember, this is your claim which you can manage and oversee. You have the right to appoint your own contractors and hire your own professional insurance claim experts should you wish. You can contact independent Loss Assessors, such as Oakleafe Claims, for advice, guidance, support and even management of your claim if you so choose. Loss Assessors are experts at overseeing and managing insurance claims on behalf of policyholders. You are also allowed to appoint your own surveyor and their contractors; you do not have to go with the one suggested by the Loss Adjuster, no matter how much pressure they apply. Moreover, your policy may state that your surveyors’ professional fees are covered by your policy. One of the many reasons it is important you understand the small print and terminology in your policy documents.

Other Common Mistakes With A Private Loss Adjuster

The Loss Adjuster appointed by your insurer will be focused on obtaining all the information they need to produce their report. They will gather information from the site of damage, consider the circumstances surrounding the incident, and ask you numerous questions. Whilst it is important to cooperate with the Loss Adjuster and provide relevant information, be sure to remain cautious about the type and how much information you supply. Every piece of information you give can be used to paint a picture of the circumstances leading up to the damage. The Loss Adjuster will be attuned to picking up any details that could relieve the insurer of responsibility. If you appear apologetic or admit fault in some way for the circumstances surrounding your claim, the Loss Adjuster will use it to the insurers’ benefit. As part of their investigation on behalf of your insurer, the Loss Adjuster will inspect your insurance policy to determine whether it covers the cost of the damage, and for how much. They are adept at understanding the clauses and conditions laid out in your policy documents, and how they can be applied wherever possible. If you fail to read and fully understand your insurance policy yourself, you could be wrongfully misguided. Furthermore, without the correct knowledge you’re unable to keep your insurer accountable if they attempt to avert responsibility for the cost of damage to your property. On the other hand, insufficient information regarding your claim is another common mistake made with private Loss Adjusters. This relates to evidence to support your claim such as, photographs of damage, photos of property before damage, and proof of purchase for expensive items. Ensuring as much supportive information as possible is included within your claim submission is paramount to achieving the right outcome. Without these details, the Loss Adjuster can undervalue the required settlement figure to return your property to its pre-loss condition, and you will have nothing to refute their conclusions.

How To Avoid Mistakes With A Private Loss Adjuster

Now you are aware of the biggest and most common mistakes made with a private Loss Adjuster, it is important you’re aware of how to avoid such mistakes with your claim. To reduce the likelihood of admitting fault or disclosing too much information; remain factual and concise about the information you provide. Simply answer questions with facts, if you do not know the answer to a question posed by the Loss Adjuster, say so. It is better to say you do not know the answer, than to speculate or give misinformation. It is also crucial that you refrain from reporting about the damage or incident on your social media accounts. Nowadays, private Loss Adjusters may browse social media as part of their investigations into your claim. If they find material that could hold you liable for some or all the damage to your property, they will use it as evidence to invalidate your claim. Ensure you read and fully understand all the terms and conditions of your policy documents. This is such a critical step to avoid mistakes with a Loss Adjuster. Since Loss Adjusters determine if your policy covers your loss, and by how much, you must know whether their conclusions are correct. Without knowledge regarding the clauses and terms of your policy agreement, you cannot check their decision. If you need help understanding the small print of your policy, contact a professional Loss Assessor such as Oakleafe Claims who is experienced at advising policyholders on these matters. To remain one step ahead of your claims process you must be organised and efficient at managing your claim. Prioritise obtaining comprehensive evidence to support your claim and be sure to provide these to the Loss Adjuster within the specified time limits. You also have the right to ask for the Loss Adjusters’ conclusions of their report, and how they reached them. You can question and refute their assessments if you believe them to be incorrect. Remain in frequent contact with your insurer and their Loss Adjuster throughout your claims process, to ensure it is properly considered and satisfactorily settled in good time.

Conclusion

Private Loss Adjusters are hired by insurance companies to assess and settle complex and costly insurance claims. Private Loss Adjusters are considered to be an impartial third party within the claims process, who can objectively conclude whether the insurance company is liable to cover the cost of damage, and for how much. Unfortunately, mistakes with private Loss Adjusters are common since their interests typically lie with the insurance company. Being aware of these mistakes and doing your best to avoid them will greatly benefit your claim and help to ensure many of insurance claims are handled correctly and fairly. Most notably, you should do your best to remain in charge of your claim by appointing your own professional support and contractors, understand your policy and rights, and keep your insurer and their associated private Loss Adjusters accountable.

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