Loss Adjuster Insurance
When a property claim occurs above a certain claim limit, insurance companies appoint an expert to visit the damaged property and assess the amount of the claim and to determine whether the claim is a valid one.
Naturally, when a claim is of significant size this can be an extremely worrying time, as the Loss Adjuster will either be employed by the insurer or be a third party appointed by them. In either case, first and foremost, they are there to represent the interests of the insurance company.
In doing this, they will review the terms and conditions (endorsements and warranties) that apply to the specific property insured and decide whether the claim is to be accepted, declined or reduced due to factors that may include under insurance.
In the event of a sizeable claim, you need your own loss adjuster representing your interests exclusively. You can of course employ a Loss Adjuster to fight your corner and their charges are typically 10% of any claim value that you receive, so these may be significant. The alternative to this is to build in Loss Adjuster Insurance to your annual property policy for a minimal additional cost to your premium. When disaster strikes, you then have the peace of mind that one phone call from us and your very own Loss Adjuster will be at your premises, on your side and fighting your corner.