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Many people are not familiar with the difference between a Loss Adjuster and a Loss Assessor.  If you have suffered a property loss, it is important to understand the difference between a Loss Adjuster and a Loss Assessor. The insurance claim process can be confusing and overwhelming. You don’t want to make any mistakes that could cost you money or delay your claim.  When you make an insurance claim, you will need to choose between a loss assessor or loss adjuster. At first glance, it may seem like there is little difference between the two. Loss assessors are independent professionals who act on your behalf when making a claim. They will help you to gather evidence, assess the value of your claim, and negotiate with your insurer. In contrast, loss adjusters are employees of the insurance company. They are tasked with assessing the value of claims and settling claims. When choosing between a loss assessor or loss adjuster, it is important to consider your needs. If you want someone to act independently on your behalf, then a loss assessor is the best choice. However, if you feel confident in dealing with your insurer directly, then a loss adjuster may be the better option.

What is a Loss Adjuster and what does he do?

A loss adjuster is an individual who is appointed by an insurance company to investigate and settle insurance claims. A loss adjuster may work for a single insurance company or be self-employed.

His duties include:

  • investigating the cause of the loss
  • estimating the value of the loss
  • negotiating a settlement with the policyholder.

In some cases, a loss adjuster may also be responsible for conducting interviews with witnesses, inspecting the damaged property, and reviewing police reports. Loss adjusters typically have substantial experience in the insurance industry and are well-versed in the claims process.

They are appointed to scrutinise the claim and make savings wherever possible and this could have a detrimental effect on the claim and also the finished product.

What is a Loss Assessor and what does he do?

A loss assessor is a professional who helps insurance claimants to put together and present their claim. They are usually used following an event such as a flood or fire, where the claimant’s property has been damaged. Loss assessors can be used either by the insurer or the claimant. When used by the claimant, loss assessors help to ensure that the claim is presented in the best possible light and that all of the appropriate documentation is included.

In either case, loss assessors can save a great deal of time and stress for those involved in making a claim. A Loss Assessor is an independent professional who assesses the value of the damaged property and represents the policyholder in negotiations with the insurance company. A loss Assessor always acts in the best interests of the policyholder and will push for the maximum settlement.

What to expect when working with a Loss Adjuster 

A loss adjuster is a professional who works on behalf of an insurance company to investigate and settle insurance claims. Loss adjusters are typically retained by insurers following a major event, such as a natural disaster or severe weather event, when there is a large number of claims to be processed. While loss adjusters are not required to have specific qualifications or licensing, they must be experienced in investigating and evaluating insurance claims. 

In most cases, loss adjusters will visit the site of the loss to assess the damage and gather evidence. They may also interview witnesses and review relevant documents, such as building plans and engineering reports. Once their investigation is complete, loss adjusters will provide a report to the insurer detailing their findings. This report will typically include an estimate of the value of the claim and recommendations on how it should be settled. 

What to expect when working with a Loss Assessor 

A loss assessor is a professional who works on behalf of the policyholder to assess the damages caused by an insured event, such as a fire or flood. Loss assessors are usually appointed by the insurer, but they can also be hired by the policyholder. Their role is to inspect the property, quantify the damage and prepare a report for the insurer. They may also negotiate with the insurer on behalf of the policyholder to ensure that they receive a fair settlement. Loss assessors are different from loss adjusters, who work for the insurer and whose role is to assess the claim on behalf of the insurance company.

In conclusion

So deciding on whether to choose a loss adjuster or a loss assessor will come down to your individual situation and a better understanding of the claims process.

#ClaimRite are loss assessors based in South Wales. If you need help with your claim, it is always best to seek professional assistance. Whilst we are experts in the insurance industry, we are also experts within the building industry and make sure all related damage is accounted for when scheduling the loss. Contact us for FREE advice today.