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Understanding the Appraisal Process
The appraisal process is a critical tool in the insurance claims landscape, especially when disputes arise over the amount of loss. It provides an independent evaluation, ensuring fair compensation, protecting your interests, and resolving disagreements efficiently.
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Triggering the Appraisl Process
When there’s a dispute over the claim amount, initiating the appraisal process is crucial. This step helps move past conflicts toward a resolution. We handle this for you with a simple form, ensuring the appraisal process starts smoothly and efficiently.
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Selecting Your Appraisers
Both you and the insurance company will select impartial appraisers—experts who independently assess the damage to determine the accurate cost for repairs or replacement. This ensures a fair and unbiased evaluation, essential for a just settlement.
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Agreeing on an Umpire
The selected appraisers then jointly choose a neutral umpire. If the appraisers disagree, the umpire’s decision, reached in agreement with at least one appraiser, becomes binding as long as there is policy coverage. This final decision ensures a fair resolution, avoiding the need for litigation.
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Reaching a Fair Settlement
The appraisal panel, consisting of your appraiser, the insurance company’s appraiser, and the umpire, collaborate to establish the true value of your loss. This collaborative approach is designed to settle disputes fairly and efficiently.
Take the Next Step
Access our appraisal form and begin the process
Click here to access our appraisal formFarrand has over 20 years of experience providing professional appraisal services across multiple industries.
The appraisal process, while underutilized, has proven to be a highly effective tool for our clients.
Many clients have achieved more favorable outcomes compared to underpaid claims by utilizing our appraisal services.
The cost of an appraisal is minimal compared to the potential losses from an insufficient settlement, making it a smart investment.