Public Loss Assessors provide valuable services and expertise, especially where the policyholder may feel overwhelmed or lack the necessary knowledge to navigate the claims process effectively.
OMC Claims’ fees can vary depending on several factors, including the complexity of the insurance claim at hand. However, our standard terms of business refers to our fee as being 10% of the final insurance settlement, subject to VAT.
Before engaging any Public Loss Assessor it’s advisable to discuss fees and terms upfront to ensure there is a clear understanding of the costs involved. For this reason, we share our terms of business with our prospective clients in advance of their engaging us formally, giving them the time and space to understand the claim process and our role in it.
Some people often ask whether engaging the services of a Loss Assessor is ‘good value for money’?
When thinking about the insured loss and the claim, claimant should be mindful of the following:
Our First Call is Free:
We are happy to visit with you without charge or obligation. This helps us to better understand the scope of the Insured loss and your needs in relation to the claim process. You have the opportunity to ask us questions and understand how we are going to represent your interests.
Expertise and Experience:
Public Loss Assessors are knowledgeable about insurance policies, coverage, and the claims process. They can help you understand your policy and ensure you receive the maximum pay-out you’re entitled to. Their experience in handling claims can be particularly beneficial if you’re unfamiliar with the process.
Time and Effort Saved:
Dealing with an insurance claim can be time-consuming and stressful. Public Loss Assessors can take on the burden of preparing and filing the claim, negotiating with the insurance company, and handling documentation and paperwork. This can save you significant time and effort, allowing you to focus on other priorities.
Maximising Pay-out:
Public Loss Assessors work on your behalf to ensure you receive a fair and adequate settlement. They can assess the damage, document and quantify losses, and negotiate with the insurance company to maximise your pay-out. In some cases, their involvement can lead to substantially higher (legitimate) claim settlements compared to what you might have received on your own.
Contingency Fee Structure:
Public Loss Assessors typically work on a contingency fee basis, meaning they only get paid if you receive a settlement. This arrangement can be advantageous for policyholders who may not have upfront funds to hire their own claim expert but still want professional representation.
