CLAIMS APPRAISAL AND MEDIATION

Appraisal + Mediation

Certain times, it is necessary for the public adjuster to invoke the appraisal clause. If the public adjuster and client do not agree with the insurance company on the settlement amount, the claim may be taken to appraisal.

What Is The Appraisal Clause?

The appraisal clause is a provision in an insurance policy that allows the policyholder and insurer to hire independent appraisers to determine the value of a claim. The clause is typically used when there is a disagreement about the financial reward you deserve. 

For example, let’s say you file a claim for $20,000 worth of damage to your home after a severe storm. Your insurance company sends an adjuster to assess the damage, determining that the repairs will only cost $15,000.

You disagree with this estimate and believe the repairs will cost $25,000. At this point, you can use the appraisal clause to recover the money you deserve.

How Does The Clause Work?

Even though the appraisal clause seems complicated, it’s straightforward. First, you (the policyholder) notify the insurance company that you would like to invoke the clause. Then, each party will hire its independent appraiser.

Once both appraisers have assessed the damages, they will meet to try and agree on the claim’s value. If they cannot reach a consensus, a third neutral appraiser will be brought in to make a final decision.

Why Is The Appraisal Process Important?

The appraisal clause is essential because it provides a way for policyholders and insurers to settle disagreements without going to court. The court can be time-consuming, while the appraisal clause is typically quicker and cheaper, making it an essential part of insurance policies.

In addition, the clause protects both parties from unfair settlements. For example, if an insurer lowballs a policyholder on their claim, the appraisal clause can be used to get the money that is rightfully owed.

The same is true for policyholders who try to inflate their claims. If an appraiser finds that a policyholder has exaggerated the value of their damages, they will only receive the amount that was agreed upon.

We don’t get paid until you do

if there is no recovery you pay us no fees

How Does The Clause Work?

Even though the appraisal clause seems complicated, it’s straightforward. First, you (the policyholder) notify the insurance company that you would like to invoke the clause. Then, each party will hire its independent appraiser.

Once both appraisers have assessed the damages, they will meet to try and agree on the claim’s value. If they cannot reach a consensus, a third neutral appraiser will be brought in to make a final decision.

Why Is The Appraisal Process Important?

The appraisal clause is essential because it provides a way for policyholders and insurers to settle disagreements without going to court. The court can be time-consuming, while the appraisal clause is typically quicker and cheaper, making it an essential part of insurance policies.

In addition, the clause protects both parties from unfair settlements. For example, if an insurer lowballs a policyholder on their claim, the appraisal clause can be used to get the money that is rightfully owed.

The same is true for policyholders who try to inflate their claims. If an appraiser finds that a policyholder has exaggerated the value of their damages, they will only receive the amount that was agreed upon.

Mediation With Your Insurance Company

You may choose to mediate if you and the insurance company cannot settle negotiations. During mediation, both parties will meet with a neutral third party (the mediator) to try to agree.

The mediator does not make decisions or force either party to settle; they facilitate discussion and help both sides find common ground.

Mediation is often quicker and less expensive than going to court, and it can be helpful in cases where the relationship between the insured and insurer needs to be preserved. 

If you go through mediation, any settlement reached is binding on both parties.

AT LEXINGTON PA, WE DON’T GET PAID UNTIL YOU DO

IF THERE IS NO RECOVERY YOU PAY US NO FEES

We work hard to support you through the insurance appraisal process, and our team of experts will always go the extra mile to ensure you receive the money you deserve. Making an insurance claim shouldn’t be a complex process, and with us on your side, you get to recover your money.

Bespoke support from a competent and impartial appraiser

When making an insurance claim, having the proper support can make all the difference. That’s where bespoke insurance claim support from a competent and impartial appraiser comes in.

Our experienced appraisers will be able to assess your situation and provide you with the information you need to make a successful claim. We can also help negotiate with your insurers on your behalf, ensuring you get the best possible outcome.

With our help, you can ensure that you’re getting the most from your insurance policy and that your claim is handled smoothly and efficiently.

If our appraisers fail, we don’t get paid

At Lexington Public Adjusters, we understand that our business’s success depends on our appraisers’ skills and expertise. That’s why we only hire the most qualified individuals and provide them with ongoing training to ensure they are always up to date on the latest developments in the insurance industry.

Because we know that your success is directly linked to our own, we don’t get paid until you get the correct cash value for your damage and repairs. As a result, you can be confident that your appraiser will go out of their way to settle even the most complex insurance claims.

It’s no secret that insurance companies often fail to agree on the amount of money you deserve, but property owners can succeed with the claims process when we’re on their side.

We work with homeowners insurance and general property insurance claims

At Lexington PA, our insurance appraisers have extensive experience working with all property insurance claims, including residential and commercial claims.

We understand the complexities of the claims process, and we are here to help you get the maximum settlement possible. Our appraisers will work with you to determine the value of your property, and we will also provide detailed documentation to support your claim.

While many insurance providers use complex appraisal language to confuse their clients, we understand the importance of timely and accurate appraisals, and we will work diligently to ensure that your claim is handled professionally and efficiently.

Get in touch.

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