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Insurance is A Heartless Business – It Pays To Have Someone Who Cares About Your Losses

Insurance companies do not care about your troubles. They don’t deal in kindness, or empathy. They are indifferent to your suffering. Misery and misfortune is their day job and your anguish has no special relevance. It’s not personal, it’s just how they must be to make money.

These organizations are, in point of fact, little more than giant calculating machines.
They work on basically the same principles as your high-street bookmakers; they quote probabilities, or ‘odds’ (your premium) of events taking place. 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.

The person doing supply-side calculations for the insurers is the loss adjustor. After the (in all likelihood traumatic) event, the fire, theft or flood, that you wish to claim for, he or she is working out how to pay you as little as possible. Since he is an expert in insurance law, he generally proves quite good at this. 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. Life been turned upside-down? Burglars stolen your soul? Big deal. You’re no different to the next guy.

The system might seem unfair, and that’s because it is unfair, and it is also why loss assessors appeared. A loss assessor is the loss adjustor’s foe, appointed by you to help you get what you are entitled to, not what the insurers are able get away with. It is sensible to contact a loss assesor before making your claim, especially if the claim is a sizeable one or one with potential to be contentious. If you’ve been burgled for instance, when the value you place on your lost possessions may diverge significantly from the loss adjustor’s appraisal, the call to a loss assessor should ideally be your second – after the one to the constabulary. The assessor will visit your property, take photos on your behalf and examine the precise legal details of your insurance contract.

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.

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