Insurance Claim - Settlement

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    Insurance Claim - Settlement

    I currently have a claim for water damage - Insurers Loss Adjusters have come up with a figure of £17,500 or so for their builders to rectify the problems caused - plus any loss of rent.

    I would prefer to use my own builders and am seeking a settlement by cheque.

    My insurance brokers for another property have told me that I am entitled to get £17,500 as a settlement plus loss of rent.

    During initial conversations with the LA his view is the cash alternative would be lower - loss of rent is not in question

    i.e the £17,500 figure would be negotiated downwards.

    Does anyone know where I stand?

    For info, I have one happening at the moment for water damage.

    My options are:

    a - Their contractor.
    b - My contractor (after 2 quotes).
    c - A cash settlement of 75% of the estimate (assume that would be of *their* estimate).

    I'm also having an expert report at the "stripped while the damage can be seen" stage as insurance against their loss adjuster who appears to have missed some of the deeper seated damage - just in case there is a disagreement later. They will get a rapid email suggesting that "having stripped back the wet wallpaper and laminate floor, it is clear that damage may be more extensive than initially thought - photos attached - so I suggest a revisit by the loss adjuster".

    In the context of several k for a claim, £250 for a report seems worth it.

    Refer Mad Regulators to Arkell vs Pressdram.


      Thanks for that - interesting indeed.

      They have offered me 80% but a better amount on loss of rent (he threw in a couple of weeks)

      Who is doing the expert report?

      i.e what type of surveyor?


        Get yourself a Loss Assessor. Get your claimed handled by a professional


          In our case we have an architect doing the report, but who has been involved in rented property for 30 years, i.e. someone who has been round the block enough to know where the manholes covered by circles of black cloth are located.

          Perhaps insurance companies should sell policies against under-estimates of claims by insurance companies.

          Refer Mad Regulators to Arkell vs Pressdram.



            They have offered me 80% but a better amount on loss of rent (he threw in a couple of weeks)

            Are you registered for VAT. When they offered you 80% of the estimate, was the estimate with VAT @ 20% to be added. If so a £17500 claim plus VAT becomes £21000 and 80% of that is £16800.
            And even at this stage I would get your own Chartered Loss Assessor. They charge a percentage of the claim but you could argue as you have allready been offered a figure they could only charge a percentage of what they can increase your claim by. I have used Loss Assessors on 3 occasions and have not regretted it.


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