If you are in the unfortunate position of making a claim on your property insurance there are a couple of points you would be wise to be aware of. Firstly, upon reporting your claim, the insurance company will look to appoint you with a loss adjuster. These are usually from an independent company whose remit is to assess whether your claim is covered in your policy, and also what the value of the claim amounts to. Whilst the loss adjuster does operate as a separate and impartial organisation from the insurance company, they are ‘encouraged’ to keep the value of the claim to an absolute minimum in order to keep the insurance companies profit at a maximum. Remember the insurance company isn’t necessarily your ‘knight in shining armour’ – they need to make a profit to survive as any other business does. Whilst many claims are completed amicably through the loss adjuster route, a quick search on many insurance forums will quickly establish a feeling of distrust and imbalanced service provided by many loss adjusters.
However there is another option available to policy holders and one which some insurance companies fail to educate their policy holders on. This is the fact that they are entitled to manage their own claim through using an independent loss assessor.
A loss assessor will represent you through the complete claims process by:
a) Preparing the claim report and justifying the costs associated
b) Meeting with insurance company representatives or their appointed Loss Adjusters
c) Negotiate the best possible settlement of the claim – i.e. getting its true value
d) Deal with cases where a claim has initially been declined by the insurance company or where problems or delays have occurred in agreeing settlement
An experienced Loss Assessor is a valuable asset during the claims process – they carry a lot of experience in dealing with insurance companies and have the technical knowhow to make sure you get the true value of your claim.
Peter Hargreaves, managing director at Allkare, a national disaster restoration company with 12 years of experience in dealing with loss assessing and insurance companies, says
“Over the past few years we have seen an increase in people wishing to use our services due to their lack of trust in the service provided directly by the insurance company. They appreciate the fact that we take away all the stress from managing a claim and make sure our clients get their property restored its full ‘pre-claim’ glory – something they are entitled to considering the premiums they pay”.