Anthony Jones is proud to have its own claims team to help customers through the claims process. Most insurance claims are dealt with quickly and professionally and tracking claims, ensuring fair settlements and accurate coverage assessment is what we do every day.
However, we are not experts in technical aspects of the building and construction industry so looking at a significant property loss often requires experts to get involved. Not all experts agree of course and for this reason we are partnered with independent Loss Adjusters who have an enhanced understanding of customers’ needs. When acting on behalf of insured’s (as opposed to insurers) Loss Adjusters become more commonly known as Loss Assessors just to confuse matters. Customers could be commercial or personal insurance buyers particularly High Net Worth clients.
Where we feel appropriate, we will talk with our clients about appointing a Loss Adjuster when they submit a claim or where we feel expert assistance is needed. We do so in the knowledge that we have people who act with integrity and in an equitable and unbiased manner to ensure clients receive a fair settlement under the Policy.
This post is an essential introduction to loss assessors. We’ll discuss what they do, when they might be appointed, and how they can help both insurers and policyholders.
If you have any questions about any aspect of your insurance, contact us on 020 8290 9080 or email personal@anthonyjones.com.
What is a Loss Assessor?
A loss assessor is a licensed professional who represents policyholders. They draw from their deep knowledge of insurance policies and claims processes to help policyholders negotiate insurance claims to get the best possible outcome.
Benefits of a Loss Assessor
The days, weeks, and months following an event such as a fire, a flood, or a theft can be immensely stressful and upsetting for policyholders. Loss assessors can take on the burden of managing a claim, helping to remove a lot of the stress for the policyholder. At the same time, they can expediate the process to ensure they get the settlement to which they’re entitled as soon as possible.
What Does a Loss Assessor Do?
As their name suggests, loss assessors are chiefly concerned with assessing the amount a policyholder has lost in a claim. In the case of fire or flood, a loss assessor will assess and document the damages to the property. If the claim involves theft, the loss assessor will help the policyholder determine the exact value of any stolen items.
Loss assessors can also provide immediate support in the claim process. For example, following a fire, a flood, or a break-in, a loss assessor can help policyholders secure the property, find alternative accommodation, and even arrange for emergency repairs.
Following this initial service, a loss assessor can provide ongoing support and guidance throughout the claims process. They can help policyholders meet all requirements and deadlines while handling all necessary negotiations with the insurers. Their aim is to ensure the policyholder receives the settlement they deserve, in a way that suits them best.
When Might a Loss Assessor Be Appointed to a Claim?
Loss assessors might be appointed to manage complex or disputed claims involving:
- Contents – A loss assessor can help the policyholder to itemise their losses, before coming up with a value of the stolen goods.
- Business Interruption – Following a fire, flood, or theft, a business might incur additional expenses for as long as they’re unable to trade, or to operate at their full capacity. Loss assessors can help businesses calculate the cost of their business interruption, so as to ensure the claim settlement will enable them to stay afloat.
- Property Damage – As well as helping property owners put an accurate price on the scale of their losses, loss assessors can also help them recover from the incident with immediate support in repairing damages, securing the property, finding alternative accommodation, and so on.
- Liability – If a policyholder’s held responsible for causing injuries or damage to others, a loss assessor can work to negotiate fair compensation while ensuring the insurer accepts liability.
Do I Need a Loss Assessor?
Loss assessors can prove invaluable in helping you to manage a claim. Through taking on all the admin on their behalf, you’ll have fewer things to worry about, meaning you can focus on your recovery. Their expert guidance can also help you get the settlement you’re owed as fast as possible.
However, loss assessors do not work for free. As they work on behalf of the policyholder, it’s the policyholder’s responsibility to pay them. Typically, you’ll pay a loss assessor a percentage of your settlement, and they’ll work on a “no win, no fee” basis.
If you’re facing a small and straightforward claim, then there’s really no need to appoint a loss assessor, as you’ll essentially be paying a specialist to do something that you could easily do yourself. Yet if you’re facing a major claim, one that’s seriously disrupted your life or your business, then a loss assessor can provide invaluable support and essential peace of mind that everything will be taken care of.
Essential Insurance Support From Anthony Jones
If you have any questions about any aspect of your insurance, such as whether or not it’s necessary to appoint a loss assessor, contact us on 020 8290 9080 or email personal@anthonyjones.com.