Here, we clearly explain the differences between Loss Assessors and Loss Adjusters in Ireland. We will outline the roles they both play in a property damage insurance claim.
What is an Insurance Assessor
In Ireland Public Loss Assessors are required to be registered by the Central Bank of Ireland. As part of the registration process, loss assessors must prove their technical competence. This is usually demonstrated by a loss adjusting qualification obtained by a series of examinations from the Insurance Institute of Ireland. In addition, most Public Loss Assessors will hold additional relevant qualifications in areas such as Surveying, engineering and construction.
Public Loss Assessors only work for the public/policyholders who wish to make a property insurance claim.
Loss Assessors in Ireland only represent the policyholder. The policyholder is the person who is making the claim (homeowner). Loss Assessors in Ireland NEVER work for or represent the insurance companies.
Loss Adjusters in Ireland work for the Insurance Companies. They are hired look after the Insurance Companies best interests. This is done by reducing claim payouts to the detriment of home owners!
A loss assessor’s role is to represent the home owner’s best interests. This is done by getting the maximum claim settlement under the terms of the policy. Public Loss Assessors can deal with all aspects of your home insurance claim. We can also advise on;
- How to report a home insurance claim online
- How much does home insurance increase after a claim Ireland
- How to make a claim on your home insurance policy
- How to deal with a home insurance adjuster after water damage
- How to make a successful water leak insurance claim
- Is it worth claiming on home insurance
- Average insurance payout for water damage Ireland
Need Help with a Home Insurance Claim? Call Claims Assist Loss Assessors now on 0818 -929 555
Your Insurance Company would prefer if you did not have your own loss assessor! This is because they can get away with greatly reduced claim payouts! Your insurance company’s “Professional Loss Adjusters” have a major advantage over you as an “amateur” homeowner.
What is the Cost of Insurance Loss Assessors in Ireland?
Insurance Loss Assessors generally work on a “no win no fee” basis. The cost of Loss Assessors is a percentage of the overall claim settlement payout. Typically, the cost of a loss assessor is 10% plus vat. Insurance companies do not cover claim preparation fees. These fees include loss assessor fees, surveyor fees & other professional costs involved in ‘proving or preparing’ a home insurance claim. However, the increased payout an insurance loss assessor can bring, substantially exceeds their 10% fee. In many cases, an experienced loss assessor can increase a settlement by 30% – 70%.
What does a home insurance Loss Adjuster do?
When a property insurance claim is made, your insurance company appoint a professional claims handler called a “Loss Adjuster”. The Loss Adjuster will ONLY represent the insurers best interests. They will interpret the insurance policy terms and conditions in favour of the insurance company. Therefore, avoiding payouts by denying the claim or paying out as little as possible for the insurance claim.
Some of the loss adjusting firms that Insurance Companies use in Ireland are;
- Sedgwick Loss Adjusters
- Davies Loss Adjusters
- Pro-Adjust Loss Adjusters
- McLaren’s Loss Adjusters.
Insurance Companies can give the impression that their loss adjusters are independent and impartial. This is certainly not the case. Loss Adjusters are employed and paid by the insurance companies. They are strictly obliged to follow the claim handling processes laid down by insurers, frequently to the detriment of the you the claimant.
When insurance loss adjusters review claims submitted, they “adjust” or reduce the claim amount. This is only ever down downwards. It is unheard of for an adjuster to increase the amount due to an omission or error on behalf of the claimant or property owner.
Your home insurance claim is specific to many details such as type, age & location of your building or property. Couple this with the specifics of how the damage event occurred. Combine all these details with the framework of the insurance policy terms & conditions, and also your legal and statutory rights. Now you can begin to see how complex the insurance claim procedure can be. A loss assessor is essential to ensuring you receive the maximum payout under the terms of your policy.
Summary of the Differences between loss assessors and loss adjusters
The main difference between loss assessors and loss adjusters is that they work on opposite sides of a home insurance claim. Loss Assessors are qualified loss adjusters. Neither the loss assessor or loss adjuster is independent. They are both employed to represent their clients opposing financial interests. In a claim scenario, the Public Loss Assessor (PLA) attempts to get the maximum payout entitlement from the insurer. The Loss Adjuster however, attempts to avoid or minimise the claim payment to enhance your insurance company’s profits.
Conclusion – Loss Assessors represent the property owner, Loss Adjusters represent the Insurance Company
Contact Claims Assist Ireland – Insurance Loss Assessors Today on 0818 -929 555
Claims Assessor – Galway, Dublin, Limerick, Athlone
It is vital for policyholders, when making a claim to obtain professional advice from a Public Loss Assessor (PLA). This is necessary if they are to stand any chance of achieving a fair or equitable insurance claim settlement. Contact Claims Assist Ireland for further details on our Insurance loss assessors services that we can offer you. All our claims advice is provided on a ‘No win, No Fee’ basis.