Whenever you make a claim for a property from an insurance company, there needs to be a person that can judge to what extent you need to be compensated. These people are loss adjusters and loss assessors – but what is the difference between the two?

In order to determine the difference between loss assessors and loss adjusters, it would probably be helpful to take a look at each one individually and discover exactly what each will do in the event of a claim.

Loss Assessors

A Loss Assessor is a third party that is appointed by a policyholder if a claim is made to an insurance company. This can be for any kind of loss, caused by any number of different events – a fire, a storm, a flood, subsidence or theft.

It is up to the claimant to pay the fees for the Loss Assessor and to ensure that they have as much information as possible. In return, the Loss Assessor will guide you through the entire process from what you are able to claim for, to offering advice as to whether to accept an offer from an insurance company.

The main roles for a Loss Assessor are as follows:

  • Preparation of the claim: gathering together the evidence and compiling it to present to the insurance company on behalf of the claimant
  • Negotiate: if instructed, they will meet up with the insurance company and negotiate a settlement for the claimant
  • Deal with any issues: they will be the first point of call should any unforeseen issues arise as a result of the claim

When hiring a Loss Assessor, look for someone with excellent negotiating skills, a keen eye for detail and plenty of experience with dealing with insurance companies.

Loss Adjustors

On the other hand, a Loss Adjustor is an independent specialist that would be appointed by the insurance company. They will be asked to investigate any claim that seems complex so that the insurance company know that they are paying out the correct amount.

A loss adjuster will likely be used in a similar sort of case as a Loss Assessor – fires, flood, burglary etc. Their job is to make sure the right amount is being claimed, but it is up to the insurance company to pay them any fees that are required.

The main roles for a Loss Adjuster are as follows:

  • Verify the claim: this means that they will evaluate the extent of the loss to the claimant and double-check that they are covered by their insurance policy
  • Offer advice and guidance: they will evaluate what needs to be, what can be, repaired. They will also be able to provide estimates for the cost and even work with contractors to ensure the work is carried out.
  • Report to the insurer: they will provide a full, detailed report and recommend how the claim should be resolved

A Loss Adjustor will be experienced and qualified when it comes to settling claims – they will liaise with the claimant as well as the insurer to ensure that the matter is settled amicably.

Do I need to hire a Loss Assessor?

Not every claim will require a Loss Assessor – it will largely depend on the value of the claim and the complexity of the case. Generally, if there is a large amount of damage to a property, perhaps as a result of a fire, a Loss Assessor may well be required.

If you are unsure whether you need a Loss Assessor, it might be a good idea to proceed without one and if you run into issues – for example getting overwhelmed by the complexity of the case or having a number of queries with the insurer’s response – then you can consult a Loss Assessor.

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How can Ideal Response help?

Whether you decide to hire a Loss Assessor or not, if you are making a claim to an insurance company it is quite likely that one of our services will be able to help. Whether you have experienced a flood, a fire, vandalism or any other kind of property damage – we are experts in damage restoration. A company you can trust to get your property back to normal and take all the stress away.

Get in touch with us today to see how we can help you – we can be with you within 2 hours of your call.

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