Loss Assessors Explained

What does it mean to be a loss assessor

An insurance claimant’s loss assessor works for them to get the maximum cash settlement. You must have current insurance to be able to use the loss assessor’s services.

They work for you and are independent. They work on a “no win, no fee” basis. If they succeed, their fee is typically a percentage of the total settlement offer. This makes it even more difficult for your loss assessor to work harder.

Why not hire a loss assessor to help you make a claim?

Insurance companies make their money by betting that customers won’t file a claim. They don’t want to pay more than necessary for insurance claims. Their insurance loss adjusters are there to help them make sure they pay as little as possible. Although this is not to suggest that insurance companies are evil people, they are still a business. They have an obligation to look out for their shareholders.

After you file a claim, they represent you. Better yet, get in touch with them before you file your claim. Their job is to ensure that you receive the most favorable settlement possible within your insurance policy. Your insurance company has a designated loss adjuster and loss assessor who speak the same language. This allows you to avoid potential misunderstandings, traps and loopholes that could arise in the course of your claim. This is why it’s often a good idea to have your own insurance loss assessor negotiate with you.

Insurance policies may require that insurance companies be notified within a specified timeframe of a claim. However, this does not apply to insurance companies when they pay out. They are not under any obligation to settle or complete investigations. This can be pushed forward by your assessor. These delays can be a burden on the claimant financially as well as mentally. Although it may be difficult for you to put this pressure on yourself due to family obligations or work, the job of your loss assessor is to perform these follow-ups for you.

What’s the difference between a Loss Adjuster and a Loss Assessor?

Do not let similar names fool your eyes. Loss adjuster and loss assessor are two entirely different entities.

You hire the assessor. The assessor works for you and only you. The adjuster, on the other side, works for the insurance company. They are always first, and the adjuster will try to get you a lower settlement. To get fair settlements, they work within your policy. While an adjuster may not be required to inform you of any additional coverage, the loss assessor will work to ensure you get all your rights.

An example is the best way to show you how it differs. There is a fire in your house. You have to rebuild your home.

The loss adjuster will review your claim and state that your contents and the ground floor have sustained structural damage. The adjuster is not required to say anything beyond that. However, the assessor may be able to point out additional things such as water damage in areas you didn’t know about and in fixtures or fittings. The smell of smoke damage upstairs. He may have noticed that some of the joists are weakening or damaged.

The assessor will review your policy to determine if you have any additional rights. Your claim will be handled quickly by the loss assessor to ensure you get back to normality as soon as possible.

Not only do they work for individuals, but also businesses and organizations. They can save you time, money, and stress. An investment in a loss assessor when it comes time to filing a claim is well worth it.