6 Things Insurers Don’t Tell You
- Property claims made using the services of a loss assessor settle for more than those without because the full reinstatement scope is negotiated.
- Insurers will not pay for the policyholder to be represented, yet they will pay for their own position to be represented by loss adjusters and engineers.
- A large percentage of claimants do not seek to draw down retentions held by insurers, yet claims loadings are still applied and/or no claims bonuses deleted.
- Insurers/loss adjuster try to limit claim amounts for individual trades to notional ‘agreed rates’ that have not been agreed by anyone.
- Irish operations of multi-national Insurance Groups apply more rigorous and dis-advantageous terms to their Irish policyholders, e.g. excesses, claim settlement amounts and retentions than their UK, Northern Ireland and European counter-parts.
- It pays to get expert help and advice.