Flood Hit Businesses Need a Second Opinion to Assess Damage Costs
A report from PriceWaterHouseCoopers L.L.P estimates that the cost of the floods in Cumbria and Lancashire will reach £325 million.
Harris Balcombe, Britain’s oldest and most experienced loss assessor and insurance claims consulting firm, says this estimate is far too conservative and costs will be much higher.
Alex Balcombe, Director, Harris Balcombe says, “Businesses and people all across Cumbria and Lancashire are counting the devastating cost of the havoc caused by Storm Desmond. The enormity of the damage is still being assessed, but in our firm’s 145 year experience, we know these costs are being underestimated.”
“Our advice for people in this terrible situation is not to panic and simply turn to their Insurers to sort out the situation – there are other options.
Insurers have a vital role to play, but people need independent advice from loss assessors who can evaluate the extent of the damage objectively and negotiate the claim on their behalf to ensure they get everything they are entitled to in their insurance policies.
Insurance companies will bring in loss adjustors, but remember, they are working for the insurance company, not the policy holder. Our clients typically report an uplift of around 20-25% more compensation compared to what they expected.
We also urge business owners to focus on their customers right now. Communicate with them to let them know what is going on and reassure them it will be business as usual soon.
We provide other services via our network too including emergency works to secure and protect properties from further damage and clean-up operations to get people and their businesses back to normal as quickly as possible.”
Firms like Harris Balcombe have teams of experts working solely for clients. These include loss assessors to evaluate the stock, contents and material losses, chartered surveyors who will qualify the impact on the building and chartered accountants who scrutinise insurance policies and evaluate business interruption costs whilst handling the claim.
The firm manages all the negotiations with the insurers so people can focus on getting their businesses back up and running.
Balcombe concludes, “Having the strain of a claim taken care of by independent experts, the prospect of fair deal ahead and a clean-up being organised can provide some reassurance and hope for people at this terrible time.”
Harris Balcombe has a 24 hour helpline for people in Cumbria and Lancashire hit by flooding to call to get some free consultation and review all their options.
Call our 24/7 helpline on 0330 022 9179 for a free no obligations assessment