One of the questions we are asked most often is: what does a loss adjuster do? When you make an insurance claim, the insurance company will often appoint a loss adjuster to investigate the details of your claim. Loss adjusters are claims specialists who determine the cause and extent of damage in an insurance claim, to help the insurance company decide how much compensation should be paid out.
Table of Contents
What does a loss adjuster do that differs from a loss assessor?
A key difference is that a loss adjuster is appointed and paid by the insurance company, while a loss assessor is appointed and paid by the policyholder making the claim. The loss adjuster’s role is to gather evidence to confirm whether the claim is valid under the policy terms and recommend a settlement amount to the insurer. Loss assessors, on the other hand, work exclusively for the claimant. They prepare and present the claim under the terms of the policy. They oversee the claims process and negotiate with loss adjusters and insurers on the claimant’s behalf.
What does a loss adjuster do?
When an insurance claim is made, the insurer will instruct a loss adjuster to investigate the circumstances of the loss event. The loss adjuster will visit the site of the damage to assess the extent of the loss firsthand, determine the most likely cause of the damage, check whether the damage is covered under the claimant’s policy, liaise with third parties like builders to get repair cost estimates, calculate the total value of the claim based on property damage and other expenses, and submit a report to the insurer recommending a settlement amount.
The loss adjuster should act fairly and give the insurer the evidence it needs to make a claims decision. However, they are appointed by the insurance company and report to it, not to you.
Why appoint a loss assessor?
A loss assessor looks after the policyholder’s side of the claim. They know how policies are worded and how claims are assessed. Key benefits of appointing a loss assessor include experienced negotiation with the loss adjuster and insurer, assisting with complex policy terms and conditions, accurately quantifying every aspect of the claim, managing the claims process on the policyholder’s behalf, and requesting interim payments when needed.
Why appoint a loss assessor early?
Many policyholders only bring in a loss assessor if they encounter issues during the claim. It is much easier for a loss assessor to help when they are involved from the start. Appointing a loss assessor as soon as you know you’ll be making a claim means they can oversee the claims process from the outset, liaise with loss adjusters before they submit reports, ensure the claim includes all eligible costs, and negotiate the settlement with the insurer. Setting the claim up properly from the start helps avoid problems later.
How much does a loss assessor cost?
Read our guide to how much a loss assessor costs.
Who pays for a loss assessor?
Read our guide to who pays for a loss assessor.
Talk to a Public Loss Assessor in Ireland
As experienced chartered surveyors and public loss assessors, Insurance Claim Solutions (ICS) have an in-depth understanding of policy terms and the claims process. ICS loss assessors quantify every part of your claim in detail and negotiate with the insurer on your behalf. To discuss your claim in a free consultation, contact the ICS team on 01 870 9210