Fair and Confidential Insurance Appraisal Process Resolves Disputes in Justin, Texas
If an insurance provider and policy holder do not agree about the value of property involved in a claim, the appraisal process can be used to resolve these valuation issues.The insurance contract may provide for an independent appraisal to make the determination regarding the value of the property involved in the claim, or the parties may mutually agree to this process to resolve their issue. If you would like an independent insurance appraisal from a trusted appraiser in Justin, Texas, James Judge & Associates are here to help.
Most insurance contracts that contain an appraisal clause allow the policyholder or the insurance company to make a written request for an appraisal if they are unable to agree on the value of property or loss involved. An appraiser can review information about the property and the coverage, including pictures, public records, recent sales of similar items and other information to estimate the value of the property. He or she uses this information and his or her independent knowledge to calculate the value of the property involved. The parties can agree to use this independent appraisal as the value of the claim. In other situations, they may turn to an insurance claims appraiser to resolve disparity in appraisals.