Do I have to pay a Loss assessor?  

Each service is different, however, some Loss Assessors – such as us here at Aspray – do not charge for our service providing we can use our vetted contractors to carry out the reinstatement works.

However, you will still be liable for your excess which is stated within the policy. And if you are a VAT registered company, you will need to pay the VAT element of the claim, however, you can then recover this from HMRC at the time of your next VAT return.

Loss Assessors - Everything you need to know

Are Loss Assessors fees recoverable?

If you instruct Loss Assessors that charges a fee, those fees are not recoverable as part of the insurance claim.  If a fee is applicable, it will most likely be a percentage of your claim settlement – something to bear in mind when choosing a Loss Assessor to manage your claim.

Are Loss Assessors regulated?

Yes, Loss Assessors are regulated by the Financial Conduct Authority (FCA) for claims handling. This means that they are monitored by the FCA for their activity and must adhere to the FCA Code of Conduct.

You can check if your Loss Assessor is authorised and regulated by visiting the FCA Register – www.fca.org.uk/register. The company should have their FCA registration number visible on their website and any other materials they supply to you so that you can easily find them.

What is the difference between Loss Assessors and Loss Adjusters?

To put it simply, a Loss Assessor works on behalf of you, the policyholder, putting your interests at the forefront. A Loss Adjuster does similar work but on behalf of the insurer.

Your insurer will appoint a Loss Adjuster if your claim value is likely to be high, although we have worked with Loss Adjusters on some smaller claims.

If a Loss Adjuster is appointed by the insurer, they will visit your property and assess the damage to provide a settlement offer. At this point it would be up to you, the policyholder, to either accept the offer or negotiate. If you instruct a Loss Assessor, the Assessor will handle the negotiation and agreement of the settlement on your behalf.

Is it worth getting a Loss Assessor?

Yes. There are many benefits to instructing Loss Assessors to manage your insurance claims. From understanding the jargon to property scoping experience, having an expert on your side can ease the burden of the claim and give you peace of mind.

 Often insurers may ask you to submit three quotes before the claims settlement is agreed. This means sourcing contractors, waiting for them to turnup and hoping they are good quality. Working with Aspray removes this need completely. We’ll organise the settlement, putting together a schedule of works to submit to the insurer.

We’ll handle all the negotiation, aiming to get you a fair settlement. Understanding the terms of an insurance policy can be key at this stage, something your representative will be well versed in.

Need to make an insurance claim for damage to your property? Contact Aspray

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