If you ever need to make a claim on your home, landlord or business insurance, it’s likely that you will come into contact with a Loss Adjuster. This is someone who is appointed by your insurance provider to investigate your claim on their behalf.
A Loss Adjuster will do this by visiting your property or place of business to assess whether your claim is valid. Often, they will visit more than once, especially if your claim is a particularly complicated one. They will ask for documents to help with the investigation, such as receipts, proof of ownership and photographic evidence of damaged items.
Once the Loss Adjuster has everything they need to make an assessment, they will compile their findings into an assessment. This assessment is known as the Loss Adjuster’s report.
What goes into a Loss Adjuster’s report?
The Loss Adjuster’s report is a detailed assessment of everything the Loss Adjuster finds during their investigation. It includes all of the evidence they gather to support the insurer’s liability in regard to paying out, based on the policy and its wording.
Before compiling the report, the Loss Adjuster will read through the full insurance policy to determine what is and isn’t covered. They will then investigate to see how the claim matches up to the wording of the policy to determine what the insurance company is liable for. This usually involves visiting the property at least once, as well as gathering a variety of information that can help prove (or disprove) the validity of a business, landlord or home insurance claim. All of this information is detailed in the Loss Adjuster’s report. The report therefore gives a full overview of the details and intricacies of the claim, which can then be used by the insurance company to inform their decisions.
The insurance company may use the report in a number of ways. For example, they may use the photographic evidence and detailed damage in a Loss Adjuster’s report to contact the relevant construction or repair companies to get an idea of how much the repairs will cost. Once the insurer has the Loss Adjuster’s report and any further information they may need about repair costs, they can evaluate how much compensation the policyholder is entitled to in order to settle the claim.
Challenging a Loss Adjuster’s report
Before the insurance company pays out, the Loss Adjuster’s report will be sent to the homeowner, landlord or business owner to be approved. Many insurance policyholders don’t realise that they have the right to challenge any part of the Loss Adjuster’s report. There is also a good chance that your insurer won’t tell you that you have the right to hire your own Loss Assessor to help you throughout the insurance claim process. A Loss Assessor can help with all stages of the claim, from the Loss Adjuster’s first visit through to the final report and settlement.
Morgan Clark’s Loss Assessors are very experienced in helping homeowners, landlord and business owners achieve the settlement they are entitled to. As well as taking over all correspondence and negotiations with your insurer, we can assess the Loss Adjuster’s report on your behalf to make sure everything is in order. Get in touch to find out more.