If you are involved in an insurance dispute, it may seem like you have no other option but to settle for the small payout that the insurance company offers. When the amount that is offered doesn’t pay for the repairs to your home or business, it is simply unfair. After all, you had paid your insurance payments all this time, and now you won’t be paid for all of the repairs.
If you know you are being treated unfairly by the insurance company, you may have other options than to just accept the low offer your insurance company is willing to pay. Here is an explanation of the appraisal process:
FACT: Insurance claims can be disputed by policy holders.
If you know that the insurance company’s offer was too low and won’t pay for the damages, or than it was much less that you thought it should be, an appraisal might be a solution!
FACT: An appraisal is much faster than going to court and much less costly. If you choose to contest the amount of your claim, you can get an appraisal done in less time than it takes to go through a court of law and the legal process.
Here are the steps you can expect for an insurance appraisal, if your policy has an appraisal clause:
1. To begin a dispute, write a letter of demand for an appraisal. (Your insurance policy should have an appraisal clause.)
2. Call a public adjuster who has experience in appraisals and let them help you through the process. As with any legal dispute, there is a process that must be started. To fully understand the insurance company’s legal language in your policy, you will need some help from an outside source.
3. An umpire is chosen that both appraisers can agree to.This is intended to give you an objective third party to help settle the claim.
4. Each appraiser will calculate the amount of loss. Your insurance company’s appraiser will calculate the loss on their end, and your private insurance adjuster/appraiser will calculate the loss for you.
5.The appraisers will try to agree on a settlement. This is where it takes some negotiating and patience. Your private adjuster/appraiser should do this for you. In the case of a company like Advocate Claims, they calculate the losses, fill out the paperwork and negotiate the claim for you, to alleviate the stress from you. Though they are not attorneys, they should have years of claims experience. Their job is to argue your insurance claim for you and to represent you. Attorneys go to court, and public adjusters/appraisers adjust claims.
6.The differences (in the estimates) are presented to the umpire.The main purpose of the umpire is to have an objective third party to help settle any dispute between both appraisers.
7. When 2 out of 3 people agree, it becomes a binding agreement between the policy holder and the insurance company.
The appraisal process is much faster than a court of law and will usually cost much less in terms of time and money. If you are haggling with the insurance company and not getting anywhere, call an experienced public adjuster/appraiser and look for the terms of your appraisal clause.
The appraisal clause could help many victims recover losses to their home or business that the insurance company had refused before.
Call Advocate Claims for questions about Insurance Appraisal in Florida!
We serve multiple Florida cities including Miami, Ft. lauderdale, WestPalm Beach, Fort Myers, Tampa Bay, Orlando, Tallahassee and more!