Every business owner dreads a major catastrophe at their work premises – and no matter whether you are a large company or a one man band the effects can be absolutely devastating. Disaster like fire and flood can destroy the premises and stock leaving you with nothing to trade and nowhere to do it. So how can you make sure your business is going to be able to carry on into the future should the worst happen?
Most businesses assume that having a solid insurance policy (such as Business Interruption insurance) will suffice – but you cannot assume that this is the case. Insurance companies are in the business of making money – just like anyone else – and they cannot afford to give out massive claims to each and every business that puts in an insurance claims. Your insurance company will appoint a loss adjuster to work through the claims and ensure that the insurance company only pays out what it has to.
This could spell bad news for your business – what if the payment doesn’t fully match the losses that you have suffered in the fire, flood, explosion or other major disaster? This is where you would need to call on the assistance of an insurance loss assessor.
What is an insurance loss assessor?
Although it is term that you may have heard of you may not be familiar with what it is an insurance loss assessor actually does. They are your secret weapon in making sure your business will be able to carry on in the future without the financial burden associated with the disaster.
An insurance loss assessor has a similar role to the loss adjuster – essentially making sure that the claim goes through smoothly – but with one major difference, they will be working for you. With this in mind, you will no longer have to deal with the claim yourself – in fact, how could you expect to get the most from your claim if you are inexperienced in insurance and its nuances? Not only will the insurance loss assessor ensure you get a fair financial compensation deal from your insurers but often they take on the roles of helping you get contractors in and generally aiding you in building your business back up to its former glory.
You and your business will find that the experience and knowledge that an insurance loss assessor can bring into the equation is invaluable to ensuring the future success of your business. After years of blood, sweat and tears that you invest into building up your business you owe it to yourself that it continues to succeed well into the future.
Wayne Barker is the copywriter for Harris Balcombe, the foremost claims recovery company in the UK.