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You're Guide To Finding A Good Loss Assessor Consultant

Apr 3, 2008
When you've had an insured loss and are struggling to get the insurance company to pay all that you are due, it's past time to hire a good loss assessor consultant. These people are insurance professionals who work on your side of the claim, helping you find everything the insurance company owes you and then expedite the claim, getting you more money faster than you could get it on your own.

What makes a perfect loss assessor consultant?

* He should have worked in the insurance industry prior to becoming a loss assessor. You want someone who is intimately familiar with the way insurance companies work. A loss assessor is not a covered part of your claim; you will be paying this person out of pocket. You want to be certain that he or she will bring you more money in your claims settlement than he is costing you.

* They should have appropriate licensing with the financial regulator. Any assessor who has not gone out and acquired appropriate licensing is not someone who is qualified to dot all your i's.

* They should have a great track record, with references, that you can check. The best have been doing this for years, and they should have good references who can tell you exactly how much they were saved by going with this loss assessor.

* They should have been doing loss assessment for years. Don't accept a combined total of years; a combined 35 years experience may mean 35 claims assessors who have been working about a year each, or you may get the single claims assessor who has the least experience. Find out how much time your specific assessor has been working in this industry. You want a minimum of five successful years with references.

* Don't go with a cut-rate one. You really do get what you pay for, and a good claims assessor will make you much, much more than he is costing you. Does it make sense to hire the 5% guy who makes you an extra 1000, or to hire the 10% guy who makes you an extra 10,000? With all other things above being the same, it's generally better to hire someone with a mid-range rate rather than the one who gives you the lowest rate, especially since mid-range prices likely mean more personal service and attention, both necessary in any extensive insurance claim.

* Finally, your loss assessor should have a background in the area of your claim. For instance, if you had a chemical fire in a plant, you want an assessor who has experience in manufacturing damage, perhaps even engineering. If it was a house fire, they should have worked extensively with domestic insurance claims. Those who have worked with major disasters before are the best ones to choose if you're dealing with widespread flood damage. Each insurance claim is different, making it critical that the best possible loss assessor examines it to get everything out of it you need.

Overall they may be your only ally in the event of a serious disaster. Instead of letting it feel like it's you against the monolithic insurance company, hire one. Though you'll need to pay them part of your settlement, in the end you will always come out ahead.
About the Author
Derek Rogers is a freelance writer who represents a number of UK businesses. For Insurance Claim Services and Loss Assessor Consultants, he recommends Morgan Clark
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