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Imagine this scenario. Last winter in Coatbridge, a homeowner received a settlement offer from their insurer after a severe storm had significantly damaged their property. Trusting that their insurer had their best interests at heart, they accepted the offer promptly. Months later, they realised the payout wasn’t nearly enough to fully cover the repairs, leaving them significantly out of pocket. Sadly, this story isn’t uncommon.
Many people in Coatbridge place undue trust in their insurance companies to provide fair settlements. However, the reality is that insurers profit by paying as little as possible on claims. This is where a loss assessor steps in—a professional who works for you, not the insurance company, to ensure you get a full and fair payout.
Coatbridge’s properties and environmental risks present unique challenges when it comes to insurance claims. Insurers often cite these as reasons to underpay—or, in some cases, reject—claims entirely. Here’s why Coatbridge claimants may find themselves facing uphill battles:
Many homes in Coatbridge are older properties, which insurers may claim have “pre-existing issues” in order to reduce payouts. For example, during flood damage claims, they may argue that dampness was pre-existing rather than caused by the incident.
Properties near the North Calder Water are especially prone to flooding after heavy rainfall. Insurers may unfairly reject claims based on technicalities or allege that inadequate property maintenance contributed to the damage.
Local businesses dealing with property damage caused by fires, theft, or vandalism often encounter extensive claim reductions. Insurers may undervalue stock losses or miscalculate revenue impacts, leaving business owners struggling to recover.
Wind and rainstorms frequently cause roofing and structural problems in Coatbridge. However, insurers might dispute these claims, arguing the damage isn’t as severe as reported or wasn’t caused by the storm.
Insurance companies often try to settle claims quickly, but their speed comes at your expense. Here’s why accepting a fast offer isn’t always a smart move:
Insurers know most claimants won’t question the first amount offered, so they intentionally undervalue early settlement figures.
Unexpected expenses like temporary accommodation, full structural repairs, or long-term business losses often aren’t included in initial offers.
Loss assessors, unlike insurers, take the time to meticulously review your situation, ensuring the final settlement reflects the full scope of your loss.
Documentation is key when filing insurance claims, but many claimants in Coatbridge struggle to provide sufficient evidence. Insurers often exploit this “evidence gap” to reject or reduce payouts.
It’s rare for homeowners to have receipts for all their belongings, making it easy for insurers to dismiss the cost of damaged items.
Partial reports or inadequate documentation can lead to claims being denied.
If you’re a business owner in Coatbridge, you may be at even greater risk of receiving an unfair settlement. Common issues faced by local businesses include:
Retailers and warehouses often find that insurers undervalue the loss of inventory, significantly reducing payouts.
When operations are disrupted by an insured event, insurers may argue the lost revenue impact isn’t as large as claimed.
Proving losses caused by vandalism or theft can be difficult, leading insurers to reduce or reject claims entirely.
Loss assessors offer invaluable support, particularly for complex business claims. They can handle the detailed accounting, ensure all losses are quantified, and negotiate on your behalf to secure the maximum payout.
Worried that your settlement offer might not be fair? Here are three red flags to watch for:
If your payout doesn’t cover professional repair costs, it’s likely insufficient.
Insurers sometimes “overlook” certain types of damage, common in storm and flood claims.
When insurers can’t clearly justify why they lowered the amount, there’s a good chance they’re underpaying.
If you’re considering hiring a loss assessor to help with your insurance claim, here’s how to pick the right professional:
Whether it’s a fire, flood, storm, or business interruption claim, ensure the assessor has relevant experience.
Your loss assessor should be regulated by the Financial Conduct Authority for your peace of mind.
Avoid assessors with unclear pricing. A good assessor will explain their fees upfront, whether they charge a percentage or work fee-free in exchange for contractor use.
Check testimonials and success stories from past clients in Coatbridge to verify their credibility.
If you’ve received a settlement offer from your insurer, don’t agree to it right away. It’s always wise to get a second opinion—and that’s where a loss assessor comes in. They can review your claim, ensure all damages are documented correctly, and maximise the payout you deserve.
Are you still in the process of filing your claim? A loss assessor can also guide you through gathering the necessary evidence and meeting submission deadlines to avoid potential setbacks.
Start by scheduling a free consultation with a trusted loss assessor in Coatbridge today. Don’t leave your financial recovery to chance—secure the compensation you’re entitled to.
Office Tel: 0141 538 1234
Email: [email protected]
24 Hour line: 0333 210 1999
