If you and the insurance company disagree on the amount of loss, either may make written demand for an appraisal of the loss. In this event, each party will select a competent appraiser and notify the other of the appraiser selected. The selection of an appraiser should happen within 15 days of the demand for appraisal. The two appraisers will select an umpire. If they cannot agree within around 15 days upon such umpire, either may request that selection be made by a judge of a court having jurisdiction. Each appraiser will state 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 be binding as to the amount of loss.
Each side will pay it’s chosen appraiser and pay the expenses of the umpire equally.
In many cases the insured may still retain the right to bring legal action against their insurance company.
The insurance company may still retain the right to deny the claim.
An umpire is the third member of an appraisal panel in an insurance claim. The umpire’s role is to review the differences in the value or the estimates between the two appraisers and resolve the dispute. The umpire can agree with one or the other of the appraiser’s estimate or he/she may prepare his/her own estimate. Any two signatures constitute an award for the appraisal.
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