Loss Adjuster Vs Loss Assessor – Dealing with the claims process after experiencing property damage or business interruption can be daunting, particularly when dealing with loss adjusters. These professionals play a crucial role in determining the outcome of your insurance claim, as they are employed by your insurer and tasked with assessing the damage, ensuring conditions have not been breached and recommending the settlement amount. If this is your first time making an insurance claim, you might not know where to start, and this is where an insurance loss assessor can help.
Loss assessors are independent insurance claim experts who work only for you, the policyholder, to prepare and manage your claim to ensure you get the full settlement you deserve.
Loss assessors use their expertise, knowledge, and skills to remove all the stress involved in an insurance claim and get you everything you are entitled to. Furthermore, they will conduct meetings and handle all communications with the insurance company on your behalf.
It is important to engage a loss assessor as early as possible as they can ensure the entire process proceeds in the correct manner and your claim is not prejudiced negatively.
Here are some key facts about loss adjusters and loss assessors in the UK:
Here are some key facts about UK loss assessors:
At the heart of every insurance claim process lies the loss adjuster, a professional employed by the insurance company to:
Their primary responsibilities encompass:
By understanding what loss adjusters do and what their duties entail, policyholders can better prepare for and engage in the claims process, ensuring a fair and smooth resolution.
After you notify your insurance company of the incident, they will send their loss adjuster. Although they might seem like they are there to help, loss adjusters are employed and paid for by the insurance companies.
The purpose of the loss adjuster your insurance company will send is to:
As the policyholder, it is important to understand the following:
Repudiation
Frequently, insurance claims are rejected due to the loss adjuster’s interpretation of the policyholder’s non-disclosure of material facts presented at the commencement or renewal of the insurance contract. This can be for a breach of a relevant condition or warranty in the small print. The insurance company-appointed loss adjuster is trained to look for these errors, and your insurance company pays their fees for doing so.
Loss adjusters are insurance claim professionals who work for your insurer and are focused on reducing the settlement you may receive or rejecting the claim altogether.
Let’s now look at the role of loss assessors, like Oakleafe Claims, that work only to represent the interest of you, the policyholder.
Changes in the UK insurance industry now mean that you, the policyholder, are able to appoint a loss assessor, such as Oakleafe Claims, to represent your interests in the claim process.
Although loss assessors and loss adjusters are both insurance claim professionals and sound quite similar, they sit on opposite sides of the fence.
Loss Assessors are there to help and stand shoulder to shoulder with you, representing only you, the policyholder, and working to get you your full entitlement under your policy terms.
Loss Adjusters are the opposite. They essentially work against your best interests and are there to find problems and any noncompliance with the claim, to seek ways to pay out the minimum settlement, or even to refuse the claim altogether, which is called a repudiation.
Oakleafe Claims are experienced loss assessors and are members of the industry governing body The Institute of Public Loss Assessors. With Oakleafe managing your residential or commercial insurance claim, you will enjoy the following benefits:
For Residential Claims:
For Commercial Claims:
Book a complimentary claims management consultation with one of our expert loss assessors.
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Usually, no upfront fees are required when employing a loss assessor.
Loss assessors generally work on the success fee principle, charging a small percentage of the settled claim. Depending on the claim value and complexity, this is typically set at 10% of the claim settlement or less.
Often, a loss assessor will provide services for free if the policyholder agrees to use the appointed contractor network to complete the repairs.
Read more about loss assessor fees.
If you are going it alone and not employing the services of a professional loss assessor, you’ll need to prepare for your meetings with your insurer’s loss adjuster. Preparation ensures that your interaction with a loss adjuster progresses smoothly. Here are essential steps to prepare for their visit:
Communication is crucial when interacting with loss adjusters. Here’s how you can ensure effective dialogue:
Ethical Considerations and Impartiality
A common concern surrounds the impartiality and ethics of loss adjusters. While insurance companies pay adjusters, they are bound by strict industry standards to act impartially.
However, suppose you feel that your treatment isn’t fair?
In that case, there are steps you can take, including seeking a second opinion or consulting a professional loss assessor to represent your interests.
Should you disagree with the assessment or decision made by a loss adjuster, there are mechanisms to dispute it. These include:
Interacting with loss adjusters is a pivotal aspect of navigating insurance claims. Being thoroughly prepared for their visit, understanding your rights and responsibilities, and knowing how to communicate effectively and, if necessary, dispute decisions can all empower you as a policyholder. Remember, the goal is to ensure a fair evaluation of your claim, leveraging the expertise of loss adjusters while actively participating in and understanding the process.
Oakleafe Claims have represented policyholders and managed their insurance claims since before the First World War. We have vast expertise and experience in both domestic and commercial insurance claims, including riot claims, with thousands of satisfied policyholders who have received their deserved insurance settlement. With no upfront fees required, our internal data shows that insurance claims managed by professional loss assessors like Oakleafe can expect a settlement up to 40% higher than claims managed by the policyholder.
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Yes. All policyholders retain the right to appoint an independent loss assessor to support their commercial or domestic insurance claim. A loss assessor will guide and assess your claim, providing you with the knowledge and skills to reach a successful outcome. This is particularly important as your insurer will contract a loss adjuster to work on their behalf. Utilising a loss adjuster usually indicates the claim’s complexity. If your insurer has one on their side, it would be wise for you to appoint a loss assessor to represent you also.
An independent loss assessor can coordinate emergency work, prepare details of your claim, negotiate with all representatives, and settle an agreed-upon payout. This is all highly beneficial when competing against insurers and loss adjusters.
Loss assessors such as Oakleafe Claims are independent insurance experts who work solely on behalf of policyholders. We have the same knowledge and proficiency as loss adjusters, yet their purpose explicitly supports policyholders.
We only ever work on your behalf. For this reason, we can be trusted to handle your claim expertly and correctly.
Loss assessors work like independent loss adjusters, with the added value of experience and authenticity representing policyholders. We know the common mishaps, pitfalls and biases that loss adjusters and insurance companies use.
We have the skills to guide and support you through a complex claims process.
Contact Oakleafe Claims today for your complimentary, no-obligation consultation with our insurance claim professionals.
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