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Frequently Asked Questions
In the event of a loss, what steps should I take?Promptly report the loss to your insurance broker, or directly to the insurance company - and immediately engage the services of a loss assessor to help you. What is a Loss Assessor?A loss assessor is a specialist who understands every procedure involved in negotiating insurance claims and will act on your behalf to guarantee a successful outcome. They are the central element in an insurance claim and the only full-time business service on your side. A loss assessor will look after all the necessary and often complicated claims paperwork, ensuring that you receive your full entitlement as quickly as possible. Whether your damage is minimal or extensive, a loss assessor will use their expertise to negotiate your claim, taking the stress and responsibility away from you during this traumatic time. Are loss assessors connected with insurance companies?No. They are employed exclusively by the policyholder and not by an insurance company. How does a Loss Assessor interact with my Broker / Insurance Company?A Broker is like a middleman within the insurance industry. He represents the policyholder and is responsible for recommending the best options available to you. His services will not include preparation or negotiation of a claim on your behalf. What is a Loss Adjuster?Loss Adjusters are professionals appointed by the insurance company when a claim is notified. Their brief is not to prepare the claim, but to ascertain whether or not the conditions of the policy have been observed and to adjust the claim submitted. The insurance company pays their fees. How does the system work for Insurance Claims?
Can I prepare my own claim?Of course, but it stands to reason that the loss assessor who has years of experience and training can do so with more competence than the policyholder. More specifically, a loss assessor will assist you in the preparation of inventories, estimates and other factual proofs of loss. He or she will handle all the necessary details for compiling claim details, as required by the terms of your insurance policy. Your assessor will also confer, on your behalf, with insurance company representatives and handle all matters essential to a proper and satisfactory adjustment. Why do I need help in submitting an insurance claim?The typical household or commercial policy contains hundreds of provisions and stipulations - various warranties, endorsements and exclusions that are constantly changing and many complex details about your requirements in the event of a loss. Most people do not know or understand these policy provisions - and most do not realize that the burden of proof is on them, the policyholder. Most insurance company representatives actually prefer to work with an experienced reasonable loss assessor rather than an inexperienced insured. How much does it cost to employ the services of Balcombes Claims Management?Our fee is a percentage of your claim settlement, agreed with you in advance, and varies on a reducing scale for larger claims. There is no charge for the initial consultation and no hidden charges thereafter. You pay us nothing until you receive a settlement cheque from your insurance company. Most policies exclude the cost of compiling a claim, however under many buildings policies they include the cost of professional fees necessarily incurred in the reinstatement of the damage. The use of our services is cost effective. The value of getting your full entitlement and having your claim professionally represented on your behalf will be worthwhile. It makes sense. When do I get paid for my insurance claim?You will get paid between 10 – 15 days after you have signed the acceptance form. It may take several weeks to get to the stage of agreement depending on the complexity of the particular claim. When do I have to pay Balcombes Claims Management?We do not request payment until you receive your settlement cheque from your insurance company. What if I'm not sure if my policy covers the damage?Our first consultation is free and we can ascertain very quickly if the damage is covered. You do not pay us anything until you receive a settlement cheque from your insurers. In the event of a fire or similar destruction of property does my insurance pay the entire loss?This depends upon the type and amount of insurance you hold. It also depends on your expertise or the expertise of your representative, and not that of the insurance company's loss adjuster. Many insurance policies may pay more than the amount your property was worth at the time of a loss e.g. if ‘new for old’ cover applies. A qualified expert working for you can determine everything to which you are entitled. Why should I engage a loss assessor to obtain what is rightfully due to me?Insurance companies offer to pay what is due to you as they see it. If you do not claim for it, they will not pay it. Loss assessors are your exclusive representatives. With their experience and knowledge they are better able to obtain a more favorable settlement for the policyholder. How does a loss assessor determine the actual loss?We take a physical inventory, obtain all pertinent appraisals and make sure all provisions in your policy are properly fulfilled. This often involves numerous steps of which you may know little or nothing, but they can make a significant difference in the amount of the final settlement. Will a loss assessor help me receive a more prompt and satisfactory settlement?Yes. They lose no time in complying with the policy requirements to obtain and evaluate the facts and prepare the claim. The knowledgeable and prompt service they render often preserves evidence that may otherwise be overlooked or destroyed. The more thoroughly and completely your claim is compiled and prepared, the faster your loss assessor can accomplish an equitable and proper settlement in your best interest. Once a policyholder has witnessed the skill and knowledge of the experienced loss assessor, he or she will rarely attempt to settle a claim without the benefit of their specialised assistance. The loss assessor’s most frequent source of new clients is through the recommendations of those they have previously served. Why do I need Balcombes Claims Management as my Loss Assessor?Just as you would like professional representation in a Court of Law, you should insist on your own representation in dealing with insurance companies. You will have the advantage of expert assistance based on great experience in handling numerous insurance problems. Your loss assessor relieves you of the many time-consuming and difficult matters involved in preparing and filing a claim - and helps you to receive a prompt and fair settlement.
Are they trained specialists?Yes. Among the qualifications of our staff include, legal, insurance, quantity surveying and project management qualifications. As members of the Chartered Insurance Institute and the Institute of Public Loss Assessors, our staff members are required to continue their professional education to keep up with changes in the insurance industry so they can best serve you.
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Balcombes Claims Management | 16 Sandyford Office Park, Dublin 18 | T: 01-295 0589 | F: 01-295 0597 | info@balcombes.ie
Balcombes Claims Management Ltd. Registered in Ireland No. 187476. Balcombes Claims Management Ltd is regulated by the Central Bank of Ireland