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  • FIRST POST
    • Wigwall
    • By Wigwall 2nd Feb 16, 10:07 AM
    • 3Posts
    • 0Thanks
    Wigwall
    Loss assessor
    • #1
    • 2nd Feb 16, 10:07 AM
    Loss assessor 2nd Feb 16 at 10:07 AM
    Our house flooded over Xmas and after difficulties progressing the claim we decided to appoint a loss assessor to act on our behalf.
    He came recommended and is a very experienced and professional assessor. He carried out a very thorough survey of the property in order to submit the claim on my behalf

    There re just a couple of things that I am not entirely happy about.

    The first one is that we were required to sign a mandate which means that any money paid to us by our insurance company goes into his account from which we are paid once he has taken his 10% fee. I asked him why he operated in this way and that if there was any reason why he would not just send us a bill for his fee, he just said that this was the way he operated.

    The second is that he has now told us that we will not have sight of the claim he submits to our insurance. He said this is because the insurance company will offer an amount somewhat less than the claim , and that by showing us his initial claim it will give us unrealistic expectations of what we might receive. I explained that I thought we should see the claim as it was our claim and he was working for us. I also told him that we realised that there would be a period of negotiation between him and the insurance company and that we would have to accept less than his original submission..he said that was just how he operated and that he had never been asked before by clients to see the initial claim that he submits.

    Has anybody had any experience with loss assessors? And are these normal practices?

    Thanks
Page 1
    • tasticz
    • By tasticz 2nd Feb 16, 11:01 AM
    • 320 Posts
    • 87 Thanks
    tasticz
    • #2
    • 2nd Feb 16, 11:01 AM
    • #2
    • 2nd Feb 16, 11:01 AM
    simple answer don't use him... those are basic thing i would have requested too!

    what if his company goes bust or he does a runner after insurance company pays him?? you can't claim anything from your insurance company as they will have acted as per your advice and given him the money

    Different scenario but during a PPI claim using these claim companies.. the bank pays your account and the claim company sends you a bill after it is settled for their payment
    • Wigwall
    • By Wigwall 2nd Feb 16, 11:10 AM
    • 3 Posts
    • 0 Thanks
    Wigwall
    • #3
    • 2nd Feb 16, 11:10 AM
    • #3
    • 2nd Feb 16, 11:10 AM
    I did plenty of research before deciding to use loss assessor, and took lots of advice.
    The consensus was that using one for our sort of claim gets you more money even after paying his fee, which is what it is all about. The bloke we are using is proper let regulated and isn't going to go bust or run off.

    I was just wanted to know if anybody he used loss assessors that have the same practices as mine.
    • dacouch
    • By dacouch 2nd Feb 16, 6:01 PM
    • 20,514 Posts
    • 12,708 Thanks
    dacouch
    • #4
    • 2nd Feb 16, 6:01 PM
    • #4
    • 2nd Feb 16, 6:01 PM
    Why did you not use one or ask your existing assessor to work for an hourly / daily fee?

    Don't forget there will be VAT added to his fees.
    • FutureGirl
    • By FutureGirl 2nd Feb 16, 7:34 PM
    • 1,124 Posts
    • 470 Thanks
    FutureGirl
    • #5
    • 2nd Feb 16, 7:34 PM
    • #5
    • 2nd Feb 16, 7:34 PM
    Using your own loss assessor doesn't get you more money. You will get whatever it costs to put you back in the same position you wee in previously. When a customer appoints their own loss assessor, usually they inflate claims and can be problems with this.

    Usually an insurer will offer you a cash settlement, and if you dispute the amount, then you're asked for a quote - the same thing the loss assessor will provide, but inflated, which can lead to concerns on the claim.

    I never understood why people appoint their own loss assessors anyway, as they usually end up worse off with having to fork out the excess and then the fees for the assessor.
    • Wigwall
    • By Wigwall 3rd Feb 16, 5:16 AM
    • 3 Posts
    • 0 Thanks
    Wigwall
    • #6
    • 3rd Feb 16, 5:16 AM
    • #6
    • 3rd Feb 16, 5:16 AM
    Using your own loss assessor doesn't get you more money. You will get whatever it costs to put you back in the same position you wee in previously. When a customer appoints their own loss assessor, usually they inflate claims and can be problems with this.

    Usually an insurer will offer you a cash settlement, and if you dispute the amount, then you're asked for a quote - the same thing the loss assessor will provide, but inflated, which can lead to concerns on the claim.

    I never understood why people appoint their own loss assessors anyway, as they usually end up worse off with having to fork out the excess and then the fees for the assessor.
    Originally posted by FutureGirl

    I'm not sure that what you say is correct, Iots of evidence that loss assessors get you a better settlement.
    I did get 3 quotes for the buildings work and had a full list of my contents claim and was ready to submit my claim before I appointed loss assessor, so therefore when I finally do get settlement I will be able to tell if he has done a good job for me.
    He has now agreed to let me view and ok the claim before he submits it and I have discovered that signing the mandate is standard practice. Claim should be in this week so fingers crossed.
    • rs65
    • By rs65 3rd Feb 16, 6:02 AM
    • 5,351 Posts
    • 2,549 Thanks
    rs65
    • #7
    • 3rd Feb 16, 6:02 AM
    • #7
    • 3rd Feb 16, 6:02 AM
    I can understand that they may pick up on things you miss but...


    If you give him a list of contents worth £5k, he will take his cut and you get say £4500 to replace £5k worth of contents. He can only claim for what you tell him was lost or damaged so where is the benefit. If you had claimed yourself, you would have £5k


    For buildings, he may spot things needing fixed that you didn't but say the buildings works eventually amount to £10k, you then get say £9k to do £10k worth of buildings work.


    Surely you are out of pocket? What am I missing?
    • dacouch
    • By dacouch 3rd Feb 16, 7:36 AM
    • 20,514 Posts
    • 12,708 Thanks
    dacouch
    • #8
    • 3rd Feb 16, 7:36 AM
    • #8
    • 3rd Feb 16, 7:36 AM
    I can understand that they may pick up on things you miss but...


    If you give him a list of contents worth £5k, he will take his cut and you get say £4500 to replace £5k worth of contents. He can only claim for what you tell him was lost or damaged so where is the benefit. If you had claimed yourself, you would have £5k


    For buildings, he may spot things needing fixed that you didn't but say the buildings works eventually amount to £10k, you then get say £9k to do £10k worth of buildings work.


    Surely you are out of pocket? What am I missing?
    Originally posted by rs65
    Would be cheaper on the building side to employ a qualified surveyor for a one off fee of circa £800
    • JK41
    • By JK41 3rd Feb 16, 3:23 PM
    • 15 Posts
    • 8 Thanks
    JK41
    • #9
    • 3rd Feb 16, 3:23 PM
    • #9
    • 3rd Feb 16, 3:23 PM
    Wigwall, I sent you a Private Message
    • Knightinrustytin2222
    • By Knightinrustytin2222 24th May 17, 10:20 PM
    • 1 Posts
    • 0 Thanks
    Knightinrustytin2222
    Had the worst experience of my life with the loss asseser carry on! my blind mother 85 has a claim with a insurance company & loss adjusters... a company come round Who troll the web and well known sites never read my mother terms of business yet got her signature. Terms are loaded in there favour

    Several months later we got a copy of the mandate

    Our insurers wouldn't speak to us has they was dealing with agents

    They in turn employ a specialist survayer who had a graduate rics member who couldn't be found by rics the contract is a huge problem it's European agency law where they are protected

    Both the asseser and the specialist survayer are intermediaries

    They make up a scope of work and then it's like it's there claim the loss asseser adjusts your claim and then one of them negotiate for the other and they also get 3 qoutes at tender the scam is that the asseser gets the specialist survayer about £20,000 and them 10% and there none tied agents so basicly they are mediators between you and insurers so basicly they are getting you a fraction hence you never get to see paperwork... these people know the law and play innocent people most should be in prison but they ain't and finding negative reviews online is hard

    They have assesers troll these posts so if you find any positive feedback you don't need A levels to work out the person who's gave the thumbs up is most likely a loss asseser himself

    Parasites who devalue your claim if the tenders dearer than the insurers will pay they will get there own tenders from there network it's about time this is a illegal industry has it has no positives about it

    A loss ajuster will only pay on lowest tender so basically they crush any tender the insurers put in or in our case they don't and the insurers state the tenders overstated then these clowns agree
    Because there on the payroll
    Everyone closes shop on the innocent victim and everyone does inside deals

    To stop my being sued there maybe a good asseser out there can't all be bad but chances are you could get very unlucky like we did


    Next door to my mothers house burnt down major loss was involved before they got tenders meaning claim was above £100,000 yet we got £54,000 !!!1089;ash settlement

    We found out liability was at £119,000 without allowance for a party wall
    We in theory lost a blind woman's life's savings


    It's now at the insurers complaints the assesers and survayer have there cuts and no one will tell us anything

    Loss assesers ain't regulated and you try get out of a contract I wish you luck

    All these posts are full of loss assesers singing there own praises and spoof posts no one in there right mind Would use some of these crooks

    If it goes to site it most possibly idemnifys the insurers

    If you cash settle kiss goodbye at least 50% of your claim

    If I save any innocent person from this I'll be happy heed my advice

    Survayer and loss ajuster fees are included in most insurance policy's and they have to put you back to the position you was before event.

    The assesers don't and are leaches in most cases. Like I say any good ones I ain't calling you names

    I invite any loss asseser to come here and give me a positive about what they do has I'll have a answer to the rubbish they say most likely
    • Blibble
    • By Blibble 25th May 17, 8:05 AM
    • 454 Posts
    • 796 Thanks
    Blibble
    Had the worst experience of my life with the loss asseser carry on! my blind mother 85 has a claim with a insurance company & loss adjusters... a company come round Who troll the web and well known sites never read my mother terms of business yet got her signature. Terms are loaded in there favour

    Several months later we got a copy of the mandate

    Our insurers wouldn't speak to us has they was dealing with agents

    They in turn employ a specialist survayer who had a graduate rics member who couldn't be found by rics the contract is a huge problem it's European agency law where they are protected

    Both the asseser and the specialist survayer are intermediaries

    They make up a scope of work and then it's like it's there claim the loss asseser adjusts your claim and then one of them negotiate for the other and they also get 3 qoutes at tender the scam is that the asseser gets the specialist survayer about £20,000 and them 10% and there none tied agents so basicly they are mediators between you and insurers so basicly they are getting you a fraction hence you never get to see paperwork... these people know the law and play innocent people most should be in prison but they ain't and finding negative reviews online is hard

    They have assesers troll these posts so if you find any positive feedback you don't need A levels to work out the person who's gave the thumbs up is most likely a loss asseser himself

    Parasites who devalue your claim if the tenders dearer than the insurers will pay they will get there own tenders from there network it's about time this is a illegal industry has it has no positives about it

    A loss ajuster will only pay on lowest tender so basically they crush any tender the insurers put in or in our case they don't and the insurers state the tenders overstated then these clowns agree
    Because there on the payroll
    Everyone closes shop on the innocent victim and everyone does inside deals

    To stop my being sued there maybe a good asseser out there can't all be bad but chances are you could get very unlucky like we did


    Next door to my mothers house burnt down major loss was involved before they got tenders meaning claim was above £100,000 yet we got £54,000 !!!1089;ash settlement

    We found out liability was at £119,000 without allowance for a party wall
    We in theory lost a blind woman's life's savings


    It's now at the insurers complaints the assesers and survayer have there cuts and no one will tell us anything

    Loss assesers ain't regulated and you try get out of a contract I wish you luck

    All these posts are full of loss assesers singing there own praises and spoof posts no one in there right mind Would use some of these crooks

    If it goes to site it most possibly idemnifys the insurers

    If you cash settle kiss goodbye at least 50% of your claim

    If I save any innocent person from this I'll be happy heed my advice

    Survayer and loss ajuster fees are included in most insurance policy's and they have to put you back to the position you was before event.

    The assesers don't and are leaches in most cases. Like I say any good ones I ain't calling you names

    I invite any loss asseser to come here and give me a positive about what they do has I'll have a answer to the rubbish they say most likely
    Originally posted by Knightinrustytin2222

    Stop, breath, try again and we may be able to help.
    • linaraman
    • By linaraman 7th Dec 17, 6:10 PM
    • 27 Posts
    • 2 Thanks
    linaraman
    Hi, I know this is an old thread, but currently I am looking to appoint a loss assessor due to my buildings insurance claim has been rejected. All I want is for someone independent to come round to inspect my property, determine primary case of damage and calculate repair costs. The report then will be sent to the insurance company and if that doesn't help then to the Financial Ombudsman to their review. I am happy to pay a fee. I am London based. Any previous experiences or recommendations?
    • Calijet
    • By Calijet 24th Apr 18, 10:53 PM
    • 1 Posts
    • 1 Thanks
    Calijet
    Hi Guys, sorry to drag up an old thread but thought I would just provide my input on this as a Loss Assessor.

    Unfortunately this profession is rife with unregulated, inexperienced and/or franchised assessors which exist for one reason only, to either rip off the insurer, the policyholder, or both. It’s these ‘Assessors’ which give the profession a bad name.

    This profession is regulated by the Financial Conduct Authority. The first thing to check before engaging with any Loss Assessor is to check that they are authorised by the FCA, this can easily checked online, on the FCA register. Where this regulation falls down, is that you are still permitted to carry out the regulated activity of Loss Assessing as an ‘Appointed Representative’ of another authorised firm and there are hundreds that exist out there where anyone can pay a monthly fee, have very little checks carried out and become an authorised AR. I would strongly advise only engaging with a Loss Assessor that is DIRECTLY authorised by the FCA and not an AR of another firm, again easily checked on the FCA register. Being directly authorised will give you the reassurance that the business has undergone stringent checks by the FCA and regularly reports directly to the FCA. This will also give you access to the Financial Services Compensation Scheme (FSCS) which will cover costs up to £85k should the Loss Assessors business go bust.

    Signing a mandate to allow the assessor to manage your claim is standard practice and is a requirement. But the way in which client money is handled seems to vary widely. If an assessors mandate stipulates that money should be transferred direct to them, they must have client money holding permissions granted by the FCA (check the register), if they don’t, they are breaking the law. The FCA enforce strict conditions for holding client money which involves a segregated client account with a stipulated amount of liquidity in that account dependant on the business turnover and the FCA will audit this account.

    I personally wouldn’t recommend using an assessor that has the money transferred to their account, takes their % and transfers the remaining to you.

    Normal practice for an assessor is to assess your personal needs and advise in their professional opinion what would be the most suitable way of managing your claim. The two options are either using the assessor to get you the best possible settlement for your claim, which they will charge you a % of the claim settlement to do so, this % percentage should be proportionate to the amount of time and resource they spend on assessing the claim, this will vary from claim to claim. The second option would be to let the assessor appoint a contractor to carry out the reinstatement work, normally taking this option will allow the loss assessing to be carried out at no cost as the contractor will pay the assessor commission for feeding them volume work. If the latter is carried out, no money should be transferred to the assessor until you sign off on the repair, this avoids the firm having to obtain client money holding permissions from the FCA and provides you the reassurance that the work will be carried out to your satisfaction.

    The Loss Assessor must be very clear and transparent about what he is doing with your claim, what information he is sending to your insurance company and what he is charging you up front. If any of this an obstacle or he refuses to disclose anything to you, do not use him.

    Building work costs can vary hugely from contractor to contractor. An assessor’s role is to hit the best possible rates they can, so the policyholder has the option to choose whatever contractor they like. After all why should you be forced to use a cheap contractor, you do get what you pay for in this world and as the policyholder you have the right to choose your own contractor.

    There are two main insurance institues in the UK, the Chartered Institute of Loss Adjusters (cert CILA) and the The Chartered Insurance Institute (cert CII), I would make sure your Loss Assessor is an accredited member of at least one of these organisations. I would also ensure they are an accredited member of the BDMA (British Damage Management Association).

    Avoid ambulance chasing assessors like the plaque, kind of goes without saying.

    If you follow the above, this should hopefully weed out the rogue assessors.
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