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Most insurance policies contain policy language on resolving a dispute. One example of this is the Appraisal Provision. Generally a unrestricted Appraisal provision states the following:
" Appraisal. If you and we fail to agree on the actual cash value, amount of loss, or cost of repair or replacement, either can make a written demand for appraisal. Each will then select a competent, independent, appraiser and notify the other of the appraiser's identity within 20 days of receipt of the written demand. The two appraisers will choose an umpire. If they cannot agree upon an umpire within 15 days, you or we may request that the choice be made by a judge of a district court of a judicial district where the loss occurred. The two appraisers will then set the amount of loss, stating separately the actual cash value and loss to each item."
There are variations of this clause and some policies impose restrictions which are different from the language above.
Your policy dictates the process of appraisal along with state regulations of the state where the loss occurred. As stated above depending on the language each party with choose their own appraiser and then agree on a neutral Umpire to resolve the appraisal
Generally the Appraisal process is faster than litigation. Appraisal addresses disputes in the scope and price of repairs. Appraisal does not address disputes over coverage.
Fees are based upon state statutes, policy language, rules and Insurance Department Guidelines from the state where the loss/claim occurred. It may be a Percentage, Flat Fee or Hourly Fee or a variation of the three. There may be additional cost such as Umpire fees, Expert fees, Miscellaneous expenses. These will vary in cost depending on the complexity and size of the loss.
We have handled hundreds of appraisals over a 35+ year period. Our experience includes residential and commercial losses, Aviation, Heavy Equipment, Yacht/Marine, Exotic Vehicles and much more. We advertise losses to Airplanes to Zoo Animals from a multitude of cause/perils Storm, Hurricane, Tornado, Wind, Hail, Flood, Fire, Smoke, Sinkhole, Accident, Collapse, Explosion, Theft, Blasting, Sewage Backup, We have received favorable results which our client are please with.
We have confidentially appraised losses for most property losses. Our clients come from all walks of life and involve all types of properties. Residential and Commercial real estate. Exotic?collector Automobiles, Aircraft and Marine. Call us today for a free evaluation of your claim and see if Appraisal is right for you. As our company name states our coverage area is the southern states to include Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia . Call us today!
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