Umpire & Appraisal

The appraisal process provides effective conflict resolution. Not surprisingly, policyholders and insurance companies may not agree about the cost of replacing or repairing damaged property. The back-and-forth conversations can be frustrating, leaving policyholders feeling like they have no choice but to settle for less than they believe they deserve or take the matter to court.

However, you do have other options for dispute resolution. WorldClaim provides impartial, expert appraisal services in situations that don’t involve one of our current clients. If you are already a WorldClaim client, we can provide recommendations or guidance to help you find an appraiser to meet your needs.

What Is an Appraisal?

Many people are familiar with the term “appraisal” as it relates to the professional valuation of real estate or personal property. However, the appraisal insurance process is a bit different. If you and the insurance company can’t agree on the scope of the damages, cost of repairs, or the total amount of the loss, you can invoke the appraisal clause.

At that point, the insurance appraisal process provides dispute resolution that bypasses the court system. The result is a binding, contractual process you can opt for after trying to resolve disagreements at least once.

Both you and the insurance company will select an independent, competent appraiser to act on your behalf. Your chosen appraiser should have experience with the process, familiarity with industry standards, and a strong foundation in the insurance claims process. Additionally, each appraiser should be completely impartial with no financial interest in the outcome. The appraisers will work together to try to agree on the issues at hand and settle the dispute.

What Is an Umpire?

At the start of the appraisal process, both appraisers jointly choose another disinterested, competent, third-party known as the insurance umpire. If the appraisers fail to reach a resolution when working together, each one submits their findings to the umpire, who evaluates the facts and the insurance policy. The umpire makes the final, binding decision.