What is a Loss Adjuster for Home Insurance?
Caeva O'Callaghan | April 22nd, 2020
Part Detective, Part Insurance Agent – What Exactly Is A Loss Adjuster?
A loss adjuster will be sent in the event of a large or complex claim on your home insurance, to make sure everything is in order. They investigate what happened, and work on behalf of the insurance company to minimise your claim. Find out more inside.
A loss adjuster is part detective, part insurance agent. They’re assigned to big claims to investigate the cause of the damage, and make sure your claim covers everything that needs to be fixed.
However, they are working on behalf of the insurance company. So, it’s best to assume their first priority is to reduce or minimise the cost of your claim. Similar services are available to you, and those are called loss assessors.
In this article, we’ll be covering questions such as:
- What does a loss adjuster do?
- What’s the difference between a loss adjuster and a loss assessor?
- Will my insurance company send a loss assessor?
Put simply, loss adjusters are there to check everything is in order. They are working to help the insurance company pay out as little as they can. This is why you need to make sure your claim is watertight.
What happens when a loss adjuster visits me?
Home Insurance companies don’t assign loss adjusters to every claim. They only come into play when a claim is complicated, or when it reaches a certain size.
Big claims cost big money. So, after a fire or flood or other major disasters, an insurance company may send out a loss adjuster to ensure they won’t be paying out more than necessary.
Your loss adjuster will visit your home and check all the damage in its current state. This is why it’s important to take as many photographs as you can just after the incident. It may not be possible to preserve the scene until the loss adjuster arrives, so by showing them photographs, receipts of sale and other proof of ownership you’re helping them be aware of all the facts.
They’ll take plenty of notes, ask you questions about what happened, and let you know when you’ll receive further information. All you need to do is be as honest as possible. Don’t be afraid to ask your own questions, too.
Why insurance companies use loss adjusters
Loss adjusters work to establish whether the insurance company is liable under the terms of your insurance policy, and if so, to what extent. Their first priority is to find out exactly what happened, but they do work for the insurance company. This means that if a claim can be minimised, they won’t miss the opportunity.
Your loss adjuster will want to find out about these issues:
- Do you have adequate insurance in place to cover the loss?
- Have you met all terms and conditions in the policy?
- Does the loss or damage to the property fall within the remit of the policy?
- Is the amount you’re claiming for reasonable?
- Are only valid items being included in the claim?
All in all, if you’re trying to claim for something you shouldn’t – deliberately or by accident – your loss adjuster will find it and amend the claim.
Loss adjusters vs loss assessors
Loss adjusters vs loss assessors
When you make a claim, it’s easy to feel powerless. Especially when insurance companies send loss adjusters to make sure your claim is what it’s cracked up to be.
So, if your claim is large or complex, it might be a good idea to get a loss assessor on your side. A loss assessor is like a loss adjuster, but they’re working for you. They will fight your corner and protect your interests.
They know all the ins and outs of insurance and can help swing your claim more in your favour. Where a loss adjuster works on behalf of the insurance company’s interests, a loss assessor is an independent party who works on yours.
A loss assessor will primarily be focused on finding out true events, but where a loss adjuster is working to minimise the claim, a loss assessor will help maximise it. Hiring one is one way to be sure you get a full and fair settlement. However, your claims payment won’t automatically cover the costs of hiring a loss assessor.
If you have any questions about a loss adjustor or assessor talk to us in QuoteMe.ie
If you are unsure whether you need a loss assessor to represent you or if you have a claim and the insurance company are sending out at a loss adjustor, call us and talk to our home insurance team. We can help explain exactly what each party does, and give you advice on how best to proceed. We are available for calls between 8.30am and 5.30pm each weekday on 0818 224433 or 042 9359051.