Many times home and business owners find themselves in disagreement with the insurance company on the extent of damages or the amount of money it will cost to repair the damages they’ve experienced during a loss
Many times home and business owners find themselves in disagreement with the insurance company on the extent of damages or the amount of money it will cost to repair the damages they’ve experienced during a loss. When the insurance company refuses to bend, you have the option to demand appraisal. The Appraisal Clause, also know as The Appraisal Provision, allows you to have two third-parties separate from the Insurance Company voice their opinion on your damages, and amount to be paid. It’s been described sort of like court arbitration, but without courtrooms, lawyers, or judges.
Most policies have an “Appraisal Clause”. You can usually find it in your policy under the “Conditions” or “What to do after a loss” segment. If you have trouble finding it, call one of our specialists, who can assist you. An Appraisal Clause will usually read something like this:
“If you and we fail to agree on the amount of loss, either one can demand that the amount of the loss be set by appraisal. If either makes a written demand for appraisal, each shall select a competent, independent appraiser. Each shall notify the other of the appraiser’s identity within 20 days of receipt of the written demand. The two appraisers shall then select a competent, impartial umpire. If the two appraisers are unable to agree upon an umpire within 15 days, you or we can ask a judge of a court of record in the state where the residence premises is located to select an umpire. The appraisers shall then set the amount of the loss. If the appraisers fail to agree within a reasonable time, they shall submit their differences to the umpire. Written agreement signed by any two of these three shall set the amount of the loss.”
Coming to an agreement with the insurance company will save you some time, if they are willing to be fair, and you are satisfied with the results of your own negotiating skills. If this doesn’t happen, and you feel defeated, don’t lose hope. Contact us and set up a consultation for a free policy review to find out if appraisal is an option. Don’t be afraid to invoke appraisal; it is your right. Your hired appraiser will explain the appraisal process to you, and keep you informed of any and all changes.
Policyholders are responsible for paying their hired Appraiser. The Insurance Company is responsible for paying the Appraiser that they have chosen. Noble Public Adjusting Group charges $250 per hour, not to exceed 3% of the RCV total or 10% of the total increase, whichever is more. This will include negotiation time (in person, over the phone, and by email), travel time, and time spent at the property and time spent on paperwork.
It is the policyholder’s responsibility to pay their appraiser; but the increase in funding to repair your damages counterbalances the expense; it comes out of money that you never would have had. Payment is not due until the appraisal is settled and all hours are tallied. Please call us for a better approximation of costs.
If you feel that you need more money to get back to pre-loss condition, it’s best to use a public adjuster or to invoke your right to appraisal. Begin by finding your policy, and giving us a call. We have professional and experienced public adjusters and appraisers on staff ready to take on your claim! Contact us by email with any questions you have and they will be answered within the next 24 business hours!
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An insurance umpire is a competent, disinterested, impartial individual who is charged with making a decision regarding the value of a property or the amount of property loss.
For umpires to be qualified through the National Association of Insurance Umpires, they must meet 3 licensing and/or certification requirements.
As an experienced appraisal company with over 5000 appraisals under our belt, Noble Public Adjusting Group makes a solid candidate for Umpiring Services. We offer these services nation-wide, including the islands. Our fee is $500 per hour plus any travel expenses.
Please notify us if you have decided to appoint one of our Umpires, Public Adjusters, Estimators, or Appraisers as an umpire on a claim, Contact Us.