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What are Loss Assessors??

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  • 25-04-2007 9:12pm
    #1
    JuliusFranco
    Closed Accounts Posts: 437 ✭✭


    Hi

    Can anyone tell me anything about loss assessors?

    I had a fire in my house and heard about loss assessors who apparently would handle the claim for me.
    I spoke to the insurance company who really said i shouldn't use one. Without an assessor the insurance company would settle the claim much quicker?
    On the other hand i really don't know how to go about the insurance claim. Insurance company require estimates etc. Should I just get builders in to quote?

    Thanks


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    #2
    pow wow
    Closed Accounts Posts: 5,288 ✭✭✭pow wow


    Why would you choose to use one unless the insurance company made you?

    They are like claims investigators of sorts, they come out and "assess" the damage etc and then inform the insurers of the outcome and the amount needed to settle the claim.

    I have only ever had insurance company appointed ones in my house - would never opt to go with one on my own. And I guess it might take longer for the insurance company to settle because rather than him working for them he's working for you and there's a lot more paperwork and to-ing and fro-ing involved.

    When I worked in insurance we appointed them on larger claims and ones where damage was likely to be more than superficial.


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    #3
    UrbanFox
    Registered Users Posts: 472 ✭✭UrbanFox


    As far as I know there are two types of assessors.

    Insurance companies can appoint loss adjusters to investigate, quantify and negotiate a settlement with you on behalf of their behalf. Their fees are usually paid by the insurance company that instructs them as they act for the insurers.

    There are assessors who can act for you (on your instructions) in formulating and presenting your claim to the insurance company. You pay their fees. Like all such services you would need to agree terms and conditions of engagement with them before you get them to do anything.

    I suspect that some insurance companies probably don't like some of these firms because they might be good at what they do especially if the claimant is not too well up on his rights against the insurance company. Equally, I suspect that some of these firms might be regarded by insurers as being essentially ambulance chasers in character. If you get one of those to act for you it might make the insurers more difficult to deal with.

    On the other side if there are no complications with your claim and you are getting what you expect from the insurers (yes- it does happen) hiring loss assessors to act for you might be a waste of time and your money.


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