Most insurance policies have an Appraisal
Clause.
This is a mechanism that can be utilized to
establish a way to appraise property if the
insured and the insurance company do not
agree on the value or the amount of the
loss. This is very different than an
appraisal of the market value of your
property.
It is much more specific and it relates to
the dollar amounts regarding the losses.
Indeed,
“Appraisal” in the claims process has a
different meaning than what most people
think of when they hear the word. They think
it means that a person is going to inspect
their property and make a determination of
the value of that property. “Appraisal”, in
insurance terms, is a process of discussion
and negotiations in order to resolve any
differences pertaining to the actual value
of the loss.
An
“Appraisal” can be demanded by either you or
your insurance company whenever there is a
disagreement on the amount of damages.
In some cases, reopening your insurance claim through
appraisal is also your legal right.
Here's what you need to know…
The insurance company will hire an Appraiser to represent them and you will hire an Appraiser to represent you. Each is responsible for their Appraiser’s cost. The two Appraisers will then agree upon a third Appraiser to act as Umpire, to whom they will submit their differences. If the two Appraisers cannot agree on an Umpire, one can be appointed by a Court of proper jurisdiction.
The Umpire will listen to both Appraisers’ presentations and then make a decision as to which Appraiser, if either, he supports. An agreement between any two of the three constitutes an Appraisal Award, which is binding on the insurance company and on you. That is why it is so important to have experts like ourselves present and argue your entitlements to the other Appraiser and Umpire in order for you to receive your maximum settlement.
If you
believe you have a substantial claim to
reopen, appraisal is a door to open and to
do this you need to hire an expert in claims
evaluation; a professional who is
knowledgeable in working with insurance
companies, understands the language in
insurance policies, and is an expert in
estimating construction and building repair
damages.
A professional
appraiser will help you effectively document
the full extent of your claim (building
damages, content damages, overhead costs, additional
living expenses, etc.).
Tel.: 518/ 878-2444 or eMail us at: info@amclaims.com. We offer FREE property
insurance claim reviews and FREE
coverage reviews.
This advertisement is made under the licensure of Jeffrey Gaul, Public
Adjuster, NYS license No. PA-656989
and Texas license No.: 1537442.
Copyrights 2004-2009, Jeffrey Gaul. Global Alliance™,
AmClaims™, Global One™, iEBSi™, "By your side, On your side"™, "Certain
Situations Justify Other Resources"™ and "Don't
Go it Alone"™ are
trademarks that have international protection, owned by Jeffrey Gaul.
All rights reserved.
™ 
If you
believe you have a substantial claim to
reopen, appraisal is a door to open and to
do this you need to hire an expert in claims
evaluation; a professional who is
knowledgeable in working with insurance
companies, understands the language in
insurance policies, and is an expert in
estimating construction and building repair
damages.