Services

Public Adjuster Services

• Policy Analysis: They meticulously review your insurance policy, explaining your coverages, limits, and potential exclusions in plain language.

• Damage Assessment: They comprehensively document all property damage, including hidden or subtle damage that insurance adjusters might overlook.

• Claim Preparation: They create a detailed inventory of lost or damaged items, estimate repair/replacement costs, and assemble all necessary claim documentation.

• Negotiation with the Insurance Company: They act as your advocate, using their expertise to push for the maximum claim possible under your policy.

Additional Services (May Vary by Firm)

• Emergency Mitigation Support: Some public adjusters assist with securing your property after a disaster, helping coordinate things like temporary tarping or water extraction.

• Contractor Recommendations: They may provide referrals to reputable contractors familiar with the insurance claims process.

• Appraisal/Umpire Support: If there's a dispute on the value of your loss, some public adjusters help with the appraisal process or act as an umpire to resolve differences.

• Expert Witness Services: In cases of potential insurance bad faith, public adjusters can serve as expert witnesses in legal proceedings.

Insurance Appraiser Services

Key Functions of Appraisers

• Independent Assessment: Appraisers are chosen for their expertise in property valuation and damage assessment. Their primary duty is to provide an impartial, objective evaluation of the loss in question, independent of either the policyholder or the insurance company.

• Determining the Value of Loss: The appraiser carefully examines the damaged property, using their knowledge of construction, market values, and repair costs to determine:

  • Actual Cash Value (ACV): The replacement cost of the property minus depreciation due to its age and condition.

  • Replacement Cost: The amount it would cost to replace the damaged property with a new item of similar kind and quality.

• Documentation: Appraisers gather evidence and create detailed reports that include photographs, measurements, inventories of damaged items, and justifications for their valuations.

Collaborative Process

• Negotiation: Ideally, the two appraisers will work together to reach a consensus on the amount of loss. This eliminates the need for the umpire.

• Umpire Involvement: If the appraisers cannot agree, their submitted valuations are provided to the umpire. The umpire then makes a final binding determination on the loss amount, often based on the information presented by the two appraisers.

Overall Purpose

The appraisers in an insurance appraisal clause are meant to bring a neutral, expert perspective to a disagreement over the value of a loss. Their findings  help both the policyholder and the insurance company arrive at a fair and accurate scope of work without going to court.

Important Note: It's crucial that both the insurance company and the policyholder select appraisers who are competent, impartial, and have the necessary expertise to value the specific type of property in the claim.