Loss Assessors: What You Should Know Before You Hire One

If you’ve just experienced a fire, flood, storm or theft, then the chances are that you feel overwhelmed right now. The good news is that you’re in the right place, reading the right article. No one expects a life-shattering event of a fire, flood, storm (Acts of God) to happen to their home or business, and no one wants to deal with repairs, contractors, insurers, loss adjusters and paperwork at a time when you simply want life to return to normal.

That’s where a loss assessor can make all the difference.

Harris Balcombe LLP is an award-winning claims consultancy business that has been representing policyholders for over 140 years, helping individuals and businesses secure the money that they rightfully deserve.

We have created this guide to answer the four most common questions we’re asked about loss assessors and explain how our team can support you through your claim.

It’s important to know that a loss assessor works for you, the policyholder, not the insurance company. Our role is to prepare, present and negotiate your claim to make sure you receive the full amount you’re entitled to.

Loss assessors typically get paid a percentage of the final insurance settlement. A typical industry fee is often up to around 10%. The exact cost will vary depending on the nature of your loss and the level of support required.

Here are some of the factors that can influence the fee:

The key thing to remember is: things can be replaced, but you and your family can't.

You must inform your insurer of the fire as soon as possible. Remember that you don’t have to navigate that process alone.

One of the reasons why our clients work with us is because we are completely transparent about our fees from the outset. We will discuss your options before any work begins, ensuring you understand what’s included in our service and how we’re remunerated. A win-win for both sides.

In short, yes, because the expertise of a professional loss assessor can be invaluable. In most cases, we find that the emotional stress from handling such cases can be taxing and time-consuming when all you want to do is get back on your feet in a hassle-free, timely manner.

The key benefits are:

This question often arises because the terminology can sometimes be confusing.

A loss adjuster is normally appointed by your insurance company to assess liability and quantify the insurer’s exposure.

In contrast, a loss assessor can be appointed by you, the policyholder, to represent your interests.

The good news is that, you have the freedom to hire your own independent loss assessor to manage and negotiate your claim.

Our experts work alongside insurers’ adjusters to ensure your position is fully represented. We’re regulated by the Financial Conduct Authority (FCA) and have a team of professionals who ensure your claim is handled properly from start to finish.

We hope this guide has helped you understand the world of loss assessing a little better. We always recommend people facing a claim to get in contact with us before the loss adjuster comes to visit, so that you have us on your side from the get-go.

Here are some facts that you may find interesting about us:

We pride ourselves on acting swiftly, transparently and with complete dedication to every client we represent.

The key thing to remember is that appointing a loss assessor gives you a trusted professional on your side when it matters most.

Understanding how they are paid, what they do and how they add value helps you make the best decision for your circumstances.

If you’ve experienced a major insured loss, or are struggling with a complex or disputed claim, then please feel free to speak to Harris Balcombe LLP today for clear advice and expert representation.

You can call us via our 24/7 Helpline on 0330 022 9179, email us at info@harrisbalcombe.com, or simply start your claim now.