When an insurance dispute arises, the appraisal clause can be invoked by either the insurance company or the insured. A typical insurance policy appraisal clause reads as follows:
"If you and we fail to agree on the amount of loss, either may demand an appraisal of the loss. In this event, each party will choose a competent and impartial appraiser within 20 days after receiving a written request from the other. The two appraisers will choose an umpire. If they cannot agree upon an umpire within 15 days, you or we may request that the choice be made by a judge of a court of record in the state where the "residence premises" is located. The appraisers will separately set the amount of loss. If the appraisers submit a written report of an agreement to us, the amount agreed upon will be the amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will set the amount of loss. Each party will: 1. Pay its own appraiser; and 2. Bear the other expenses of the appraisal and umpire equally."
Properly or sufficiently qualified; capable. Adequate for the purpose. Legally qualified or fit to perform an act.
Not partial or biased; unprejudiced. synonym: fair. Not partial; not favoring one more than another; treating all alike; unprejudiced; unbiased; disinterested; equitable; fair; just.
While appraisal clauses may vary from one policy to another, the importance of selecting a qualified appraiser for either side remains the same.
We have the knowledge, skills and training to accurately appraise the damages to the insured property. We provide our appraisal services to both insurance carriers and property owners alike and perform our appraiser duties with honor and integrity.