Loss Assessor? Or other support with my insurance claim?

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    Loss Assessor? Or other support with my insurance claim?

    My insurance company has finally processed my claim after 6 months - having taken about 5 months to even lift floor coverings to inspect the flooded concrete slab. Lo and behold, after first inspecting other causes finally they concluded that the cause of damage was largely what I said it would be in the first instance but they refused to inspect.

    They have made an offer to pay for some of the works although they admit the works they are offering to pay for are possibly pointless. Or a cash offer instead but without VAT. There are a number of complicating factors around loss of rent, VAT on a cash settlement and proportionate remedies due to being under insured (likely but possibly not to the extent they claim).

    I hate insurance and my head is spinning. Where do I go to for advice on how to proceed / negotiate?
    Assume I know nothing.

    #2
    Financial Ombudsman will sometimes advise on how to proceed or you could make a complaint following the procedure. You need to mitigate your losses so in your position I would proceed with repairs and argue about it later. A surveyor might be helpful or independent loss adjuster.

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      #3
      Good point about mitigation. They have been terrifically slow at everything but have had a contractor send me an estimate for private reinstatement works within 24hrs which presumably starts the clock ticking...
      Assume I know nothing.

      Comment


        #4
        I was advised in 1980 when I had my first Insurance claim to use a Chartered Loss Assessor And that advice has saved me money over the years. Your Loss Assessor will argue with the Insurance Loss Adjuster. With quite a few claims even after the 10% the Loss Assessor charged I received more than if I had tried to fight a claim myself.

        Comment


          #5
          Cheers. Yes it looks like I'm going down that route. Although I have been quoted 12.5% + VAT. Is there a loss assessor you would recommend?
          Assume I know nothing.

          Comment


            #6
            If you have no loss assessor the loss adjuster is professionally obligated to be fair to you; and insurers will always follow the loss adjusters recommendations. If however you hire a loss assessor, the loss adjuster is entitled and will take a more adversarial position. I am not sure I am convinced of the merits of loss assessors. Has the underwriter had its own revaluation of the reinstatement value at the time of the loss? Have you? Underinsurance is rampant. Cheap way of ascertaining the reinstatement value is with a desktop service from someone like https://www.rebuildcostassessment.com. I have no connection with them but insurers will accept their valuations and they charge a lot less than a traditional valuation

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            • Loss Assessor? Or other support with my insurance claim?
              by Hooper
              My insurance company has finally processed my claim after 6 months - having taken about 5 months to even lift floor coverings to inspect the flooded concrete slab. Lo and behold, after first inspecting other causes finally they concluded that the cause of damage was largely what I said it would be in...
              08-09-2021, 15:53 PM
            • Reply to Loss Assessor? Or other support with my insurance claim?
              by flyingfreehold
              If you have no loss assessor the loss adjuster is professionally obligated to be fair to you; and insurers will always follow the loss adjusters recommendations. If however you hire a loss assessor, the loss adjuster is entitled and will take a more adversarial position. I am not sure I am convinced...
              11-09-2021, 15:59 PM
            • Reply to Loss Assessor? Or other support with my insurance claim?
              by Hooper
              Cheers. Yes it looks like I'm going down that route. Although I have been quoted 12.5% + VAT. Is there a loss assessor you would recommend?
              10-09-2021, 19:27 PM
            • Reply to Loss Assessor? Or other support with my insurance claim?
              by Piffy
              I was advised in 1980 when I had my first Insurance claim to use a Chartered Loss Assessor And that advice has saved me money over the years. Your Loss Assessor will argue with the Insurance Loss Adjuster. With quite a few claims even after the 10% the Loss Assessor charged I received more than...
              10-09-2021, 15:29 PM
            • Reply to Loss Assessor? Or other support with my insurance claim?
              by Hooper
              Good point about mitigation. They have been terrifically slow at everything but have had a contractor send me an estimate for private reinstatement works within 24hrs which presumably starts the clock ticking...
              09-09-2021, 12:14 PM
            • Reply to Loss Assessor? Or other support with my insurance claim?
              by Jon66
              Financial Ombudsman will sometimes advise on how to proceed or you could make a complaint following the procedure. You need to mitigate your losses so in your position I would proceed with repairs and argue about it later. A surveyor might be helpful or independent loss adjuster.
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