The Insurance Business Is A Heartless One - It's Good To Have A Friend In Your Corner

Insurance companies do not care about your troubles. They don’t do compassion, or sentiment. They have no interest in your tales of woe. Misfortune - yours or anyone else's - is humdrum to them, and they are inured as to its effects. And let's be fair, were they to entertain such emotions they would find it impossible to operate.

These organizations are, in point of fact, little more than giant calculating machines. Essentially they work like bookmakers; they deal with probabilities, offering ‘odds’ (your insurance premium) on the likelihood of events occurring. The difference with bookmakers though is that their calculations are not just demand side – before you make the ‘bet’ – but also supply side – after the event has happened.

Insurance Loss Assessors

The supply side calculator is the loss adjustor. In the aftermath of your catastrophe – your fire, flood or burglary - he or she is there to work out how to pay you the smallest possible amount on the losses you have incurred. Because he is a professional, an expert in insurance law and legal loopholes, he's generally very successful at reducing claims He's practiced at ruthlessly bringing down the value of a household insurance claim, and he has trained himself to be impervious to your difficulties. House trashed? Family heirlooms stolen? Tough. You're just another number.

It could strike your as unfair, and so it is, which is why loss assessors were invented. A loss assessor is an insurance professional who you engage, who works for you to help maximise the value of your claim. It is advisable to call an assessor as soon as possible, especially if your claim is likely to be large or if you expect difficult negotiations. In the event of a burglary for example, where claims are often contested, it should be the second call you make – after the police. The assessor will immediately arrange to visit your home to photo the scene and examine your insurance contract, handling the claim from there on in.

His expertise is reassuring, but perhaps more telling is the psychological effect your employing him will have on the loss adjustor, who will look to settle quickly. Assessors will invariably negotiate an increase that easily absorbs the fee they charge you so, in addition to the time and worry you save, there's no real risk.

For insurance claims advice, a simple call to a loss assessor is a very sensible move.