K
This is a high-risk strategy. It will be of little consolation for you to be proved right if your house is in a mess. If it is a big enough problem for the builder, he will just go bust.having the insurers instruct their builder to do the work and make it their problem.
A quick update on my situation. The insurance companies loss adjustor has informed me that the six items previously referred to are "included in their builders overall price". Given that my assessors builder has costed these at approx 6k it seems that the loss adjustor is been somewhat disingenuous on this matter. Has anyone had a similar experience or professional knowledge of these situations and if so could you advise. I realise that insurance companies want to pay out as little as possible but there does need to be fairness and tranparency. Thanks in advance.
Thank you again for your input, i will certainly reflect on your advice before coming to a decision.
You should note the loss adjustor works for the Insurer and will look to interpret the policy in the Insurers best interest and least cost settlement. you are correct to employ an assessor to represent your interests. A good assessor will cover their fee in negotiating a settlement and will know how to interpret the policy and negotiate a claim which can be difficult. Eg Does the policy provide new for old cover, professionals fees etc. Will they give you an interim payment to get work started. Don't mean to complicate the situation further and hope this gives you some help.
Kittypat
Recently two of my friends had cause to claim of the insurance company. In the first claim my friend was visited by the loss adjuster for the insurer who indicated the claim to be worth £2,000. As he had a friend who rather more qualified than the loss adjuster, being a quantity surveyor with the following letters after his name,BSc, ASCS, MRICS; Dip. Proj. Mgt., Dip. Const,Law. When he assessed the claim and the subsequent damage and work that would be involved, the claim was very quickly increased to £8,000 which was agreed in the end by the insurers loss adjuster.
A week later my other friend asked him to attend to his claim after hearing what had happened over the first claim. It was a completely different insurance company with a different loss adjuster. My friend and the quantity surveyor let the loss adjuster assess that damage before disclosing his experience and qualifications. The claim was assessed at £30,000 and when my friends quantity surveyor introduced his experience and qualifications, it was agreed that they would go over the breakdown together with almost every aspect of the claim being challenged to such a point that the claim was agreed to settle at £58,000.
The QS did not charge fees and was not doing it to earn revenues just merely helping his friends. What concerned me is just how many of the insured public accept what the loss adjusters say when in fact they could be losing out on the full value of the claim. To clarify this point, as it is a full and final settlement, any damage or further work that needs to be undertaken once the claim has been settled by the insurance company or the responsibility of the insured not the insurer.
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