Appraisal Clause
Have you and your insurance company been unable to agree on the amount of your loss?
Appraisal is the next step, and – with a seasoned, reputable Appraiser – hopefully it will be your last.
Has the insurance company sent you a letter demanding Appraisal because they don’t agree with you on the dollar amount of your loss? If so, you must name your Appraiser within 20 days of their demand.
What should you do?
This is no time for your property to become the training grounds for an amateur.
To make sure that you follow the strict requirements of the Appraisal Clause in the exact timeframe specified by your policy, you need a pro on your side. Familiarity with the methods of calculating the amount of your loss is crucial to arriving at a fair and hopefully favorable settlement of your claim.
Who will decide this?
When a claim goes into Appraisal, the policyholder and the insurance company are each required to select a disinterested or impartial Appraiser to represent their own side’s interests in presenting your claim to yet another person. This third person, called the Umpire, will be someone who is mutually agreed upon by your Appraiser and the insurance company’s Appraiser, or may be appointed by a Court of Law.
The Umpire will be expected to examine and reflect upon both sides of the argument about the claim, and will ultimately become part of the deciding voice in what is actually the fair and correct amount of your loss.
Clearly, you will need to select as your Appraiser someone who is able to present cogent, irrefutable documentation of your claim, so the Umpire can closely examine all of it and come to some agreement as to the validity of the disputed parts of your claim. A qualified Appraiser has to be versatile and know every aspect of this industry.
With The Baldwin Company having been in business for more than 35 years, our staff represents a combined pool of over 150 years’ worth of training and experience. We have a record of unsurpassed results in the Appraisal process.
You need to call us at once to discuss this process before any more time goes by.
Can the Policyholder invoke the Appraisal Clause option?
Virtually all first-party property insurance policies contain an Appraisal Clause, which makes provision for either you or the insurance company to demand that the Appraisal process begin.
If you feel you and your company’s adjuster have reached an impasse as to the value of some portion of your claim, then you too have the right to demand Appraisal.
However, if you are going to be the one to initiate the Appraisal process, you need to be doubly sure to have all your ducks in a row.
The surest and safest way to do this is to select a seasoned professional from The Baldwin Company to serve as your Appraiser.
We have a proven track record in Appraisals that can assure you of a timely, equitable settlement – and with the least aggravation or worry on your part.
Call us right away to get the ball rolling.
