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How a Loss Assessor Can Help You

Updated on August 13, 2013

Loss Assessor

A loss assessor is the first person you should contact when you have suffered an incident that will result in you making a claim on your insurance policy. Loss assessors will stand up for the rights of the consumer and help you to get the maximum amount possible from your insurance company. Loss assessors are also known as claim adjusters, and can be classed in three categories which are independent, public and staff. A staff or independent loss assessor is hired to work on behalf of the insurance company, while a public assessor will help the policy holder.

What is a Loss Assessor?

A loss assessor is a licensed professional who knows all the ins and outs of the law regarding insurance claims. If you hire a loss assessor, your insurance company will also take on a loss adjuster to handle the claim on behalf of the insurance company. It is the job of a loss adjuster to minimise the amount the insurance company pays out where possible. Your loss assessor will work on your behalf to maximize your claim, and somewhere there will be a compromise. Although you may not get as much as you hoped for, you can be sure that you will get a fairer deal than if you had not hired a loss assessor.

Types of Loss Assessors

In the event that your home or business is damaged and you must claim on your insurance policy, a loss assessor can be your best friend. There are different types of loss assessors, and an assessor who handles home insurance cases does not usually also deal with business insurance.

When you call a home loss assessor he will come to examine the damage to your home, check your documentation and help you in getting professionals to sort out the damage and fix up the property. He will make contact with your insurance company and negotiate on your behalf. This allows you to get on with fixing up your property without having the additional headaches of dealing with the insurance company.

A business loss assessor will spend more time negotiating with the insurers compared to a home insurance assessor. The business assessor needs to examine the damage to everything, and with businesses there is likely to be far more factors that may warrant a payment from the insurance company than when a home is damaged. A business assessor will also help you to arrange temporary measures so that your business can continue running as best as possible. Once this is done, he will deal with getting everything fixed permanently.

Loss Assessor Fees

A loss assessor will usually charge you a percentage of the final payout amount, and this is typically between 10% and 35%. Although this may sound a large percentage, you should bear in mind that you will probably receive more than the loss assessors fee in the additional payment that you will get through using his services. When you suffer damage to your business or property, you usually have a lot to deal with, and may accept a payout from the insurance company that is far below what you should have received. Therefore always call a loss assessor before calling the insurance company when you need to make a claim.


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