How do you get back on your feet after a disaster? With the help of Loss Recovery Insurance, a house or business can be swiftly back to its former state with the policy providing an expert loss adjuster whose aim it is to assess and manage your claim, independently, and get you a fair settlement, fast.
What is Loss Recovery Insurance?
Loss Recovery Insurance provides and covers the cost of an expert loss adjuster. We work closely with the UK’s most respected, reassuring and caring claims expert, Lorega – who can act on your behalf throughout the claims process.
To sum up, Loss Recovery Insurance is there for the situations you would rather not contemplate; those which a loss adjuster is well versed in dealing with, and who will be able to provide you with expert advice and support when you need it most.
Loss Recovery Insurance covers commercial properties and homes, and claims against material damage, content, and business interruption. It is designed to help your home or business recover from a disaster and get up and running again, as fast as possible.
Who are Lorega?
Lorega are a highly experienced team of claims experts and chartered loss adjusters, who have been working directly for policyholders and helping them with their insurance claims for over 35 years. Lorega only ever represent you, the client, as opposed to insurers, by acting on your behalf when helping with the preparation, negotiation and settlement stages of claims.
It is Lorega’s duty to ensure policyholders gain the fairest settlement possible under the terms of their policy. They achieve the fairest outcome for the policyholder using their wealth of experience, qualification and expertise as chartered loss adjusters and in the insurance market.
Lorega’s team is on hand 24/7, 365 days a year and their track record of providing excellent service is proven by their 95% overall satisfaction rating from policyholders, as well as being ranked number 1 in the Insurance Times Broker Service Survey for Commercial Lines for three years running, between 2016 and 2019, and the Insurance Times MGA Survey 2020.
A must for business interruption
Loss Recovery Insurance is available as an additional cover on commercial insurance policies.
Business interruption can come in many forms, whether caused by temporary business closure due to some unforeseen incident such as a storm, or external factor such as unplanned road closures. Read our blog here about what Business Interruption Insurance is, how it works, and how to approach Business Interruption Insurance for your own business needs.
In relation to Loss Recovery insurance, when your business is facing interruption is when your loss adjuster will get to work. After assessing the loss, they will take swift action to begin negotiations with the insurer on your behalf. It is their invaluable expertise, knowledge and determination that will bring you the settlement which is going to reimburse you for any lost revenue caused by the interruption.
Read our case study here about how Rod Smith, Managing Director of an engineering company, recalls how Loss Recovery insurance helped him manage the aftermath of a fire.
Private or business property damage
Floods and fires are just two examples of events that can completely destroy your home or business, throwing you into a period of instability.
In the event of property damage, as part of your Loss Recovery Insurance arranged by McClarrons, a loss adjuster from Lorega will be with you within 24 hours of being notified. They will be there to offer you advice to help minimise any further loss and damage, organise quotes to start remedial work or replace damaged goods, and gather information in order to begin the claims process.
Once any property damage has been assessed, your loss adjuster will negotiate with the insurer, from a position of independence, to provide you with the fairest settlement possible. With this support, things can be back to normal sooner than you might have thought.
Read our case study here about how a Lorega client’s home was flooded and recovered by her Loss Recovery Insurance policy. You can also read our case study here about how an Education Centre suffered the same unfortunate event but was soon back to its pre-flooded state, ready for a previously planned Open Day.
Let us manage the risk of loss for you
At McClarrons, we can arrange for a full assessment of your business or home, not only to advise on the insurance protection you require but also to highlight any current and future risks you may face and advise on potential issues.
As a McClarrons client, you can also benefit from access to the expertise of our in-house claims team, who will guide you through the claims process and offer advice and support.
Loss Recovery insurance arranged by McClarrons can provide you with the confidence and support you are looking for. If you would like more information on the above or a review of your insurance, please contact us on 01653 697055 or at enquiries@mcclarroninsurance.com. If you’d prefer, you can fill out the form below.
