Saturday, January 1, 2011

Auto Claim Disputes

If your insurance adjuster agrees that you should be rightly compensated for auto damages but disagrees on the amount of the claim, your policy has an inexpensive protocol built right into it that can be activated. It is known as the appraisal clause.

Practically every personal policy (i.e. home, auto, recreational vehicle, etc.) contains an appraisal clause that is often neglected and unknown to the ordinary insurance purchaser and seldom used. Use the appraisal clause when you and your insurance provider disagree about the value of your claim.

When you or your insurance provider requests an appraisal under these circumstances (if you want to request an appraisal send your insurance company a letter with such a statement) each assembly must pick an appraiser to represent himself. The two appraisers independently choose an umpire to mediate the situation if the two appraisers cannot negotiate to an effective conclusion. This umpire does not have to be an impressive judge, but an expert regarding the insurance subject and an unbiased, balanced party. Each assembly pays for their own appraiser and splits additional appraiser expenses, including umpire costing.

Fortunately you do not have to accept the insurance company’s conclusive claim settlement. The process is additionally cheaper than arbitration or legal judgement.

Remember to use the appraisal clause only after the full extent of negotiations between you and your insurance adjuster to agree on the fair claim amount have failed.

S. A. Reaves

3 comments:

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Daniel Milstein said...

That is so true. As an author and business man, I can relate to how you said "The two appraisers independently choose an umpire to mediate the situation if the two appraisers cannot negotiate to an effective conclusion". I hope more people discover your blog because you really know what you're talking about. Can't wait to read more from you!

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