Most insurance polices have an appraisal clause built in for times when negotiations have stalled and the two parties can’t seem to find a mutual resolution. When this happens, either side (the insurance company or the insured) can elect to invoke the appraisal clause and start the appraisal process (in New Hampshire). The appraisal clause usually calls for a “competent and disinterested” party to represent the insurer as well as a “competent and disinterested” party to represent the insured (you). These two parties will then choose a third party “umpire” for the chance that they fail to find a resolution among themselves. When a resolution is made an appraisal award is given and the insurer will be required to pay the difference if the award is in your favor.
The beauty of this process is that by removing the personalities involved it is often easier to find a resolution. There are risks as well as many judges have held the position that the “appraisal award” is binding and final though there seems to be no clear answer on this.
If you truly feel you are being wronged and have have exhausted all other avenues in negotiations, then perhaps hiring a professional to become your appraiser is your best option.
Beacon Adjustment offers appraisal services to insureds in any type of property damage claim. Give us a call to discuss your options and we will be happy to represent your position in the appraisal process.
To set up a consultation, call us today at 603-391-4032.
“Before hiring Beacon Adjustment I had never even heard of a public adjuster. Ryan and his team increased the amount offered by the insurance company substantially!” – Kim, (Manchester, NH)