When Would I Need an Appraisal?
When a policyholder, either with commercial or homeowners insurance, files a claim because their property has experienced damage from a natural disaster or accident, the insurance tries to resolve it by offering the lowest settlement possible. This can oftentimes lead to a dispute between the policyholder and insurance provider over the cost of repairing and replacing damages. This disagreement can get messy and complicated for the policyholder who may feel like their only option is to give in.
If a policyholder has an appraisal clause in their insurance policy, they can invoke the clause to dispute the insurance provider’s offer. This can be a productive way of resolving the disagreement that doesn’t require more stress or work for the policyholder.
How Does an Appraisal Work?
Once a policyholder and insurance provider fail to agree on the amount of loss, either can invoke the appraisal clause and demand the amount of loss be determined by an appraisal. Each party will then select its own independent appraiser to represent them. The two appraisers will together select an impartial Umpire and begin to determine the amount of loss. If they cannot come to an agreement, it then rests on the Umpire to make the final decision.
Our Appraisal Services
At Omega Insurance Claims, we can act as your independent appraiser. Our team is experienced in the process and are experts in insurance claims. We will work tirelessly to make sure the final decision is fair and resolved in a timely manner. If you are interested in our appraisal services or want to learn more, schedule a free consultation call with our team. We can walk you through the process and answer any questions you may have.
Get the Maximum Payout
Our experts make it easy to maximize your claim, so you can start rebuilding your life after a disaster quickly.