Insurance claims can be stressful – especially when you’re dealing with a big, expensive or complicated issue.
This is where loss assessors can come in handy. But what’s a loss assessor for, and do you need one for your insurance claim?
What’s a loss assessor?
A loss assessor is someone you can hire to help you manage your insurance claim.
The main thing loss assessors do is make sure you get the best payout from your claim.
But they’ll also:
- help work out the key figures, like the cost of the damage and your excess
- give you advice
- organise your documents
- keep your claim in motion
They’re experts in the insurance world, and they’ll use their skills and knowledge to help you with your claim and payout.
Are loss assessors and loss adjustors the same?
No. These are two different roles, working for two different sides of an insurance claim!
While loss assessors work for you, loss adjustors work for your insurer. It’s a loss adjustor’s job to tell your insurer if they think your claim is valid.
They’ll run through the details of the claim to figure this out. That includes:
- the type of incident
- when and where it happened
- your evidence
- your type of policy
- anything that could invalidate your insurance
They’re basically working on the opposite end of loss assessors.
Do I need a loss assessor?
It depends on your type of claim and whether you feel comfortable handling it yourself.
Loss assessors are usually hired for claims where the loss is pretty big, like:
- your car being stolen
- your house flooding in a storm
These claims can get very complicated, with lots of different things affecting the outcome.
They’re more common in home insurance claims, especially when the home has been badly damaged or destroyed and needs to be rebuilt.
In other words, you wouldn’t usually hire a loss adjustor for something like a windscreen or phone replacement claim.
Sensitive cases
Loss assessors are also useful for claims that might be emotional or distressing for you, like if someone’s been badly injured or passed away.
This takes the weight off you having to deal with everything yourself if you find it upsetting.
Will a loss assessor definitely get me a better payout?
No – there's no guarantee they can definitely get you a good payout. But it can boost the chances of you getting your claim accepted or getting a better payout.
How much does a loss assessor cost?
It depends on which company you choose, how long your claim goes on for and how big your claim payout is.
A lot of loss assessors take a percentage of your claim payout, while others charge an hourly rate for their services.
It’s important to figure out how a loss assessor charges you before committing to anything.
How do I find a loss assessor?
This can be pretty similar to finding a solicitor or contractor. You can look online to find highly rated loss assessors through sites like Trustpilot and Yelp.
Or you can use the Institute of Public Loss Assessors to find the right one for you. This is an FCA-approved list of loss assessors around the UK.
