The appraisal clause can be executed if there is any disagreement between the policyholder or the insurance company regarding the actual cash values and/or the amount of the loss. Appraisals can be an inexpensive and effective alternative to going to litigation or a lawsuit to dispute the disagreement in values.
After a written request from either party to start the appraisal process, each party must select their own competent and impartial appraiser. Once each party has selected their own appraiser, the those two will typically agree on a 3rd party umpire. The umpire will work with the appraisers to mediate the differences and come up with the correct loss amount.
Each appraiser's job is to come up with their own actual cash values and total amounts for the loss. Each appraiser will submit their reports to the umpire whom will be the final say on the actual total value the insurance company will pay for the loss.
Each appraiser will be paid separately by each party and the umpire's cost is split between parties, the policyholder and insurance company.
Miller Public Adjusters can work as your appraiser when there is a disagreement between you and your insurance company, and the appraisal clause needs to be executed.