ABSTRACT
It is not uncommon for disputes to arise between the insurer and the insured on property insurance claims. The disputes can be as simple as how much carpeting, rooˆng, siding, or surface areas to clean, or as complex as ˆre losses where parties cannot agree on what or how to return the property back to its original value prior to the loss. These types of
CONTENTS
22.1 Introduction ........................................................................................................................ 737 22.2 What Is an Insurance Appraisal? .................................................................................... 738 22.3 Appraisal Roles, Qualiˆcations, and Tendencies .......................................................... 739
22.3.1 Appraisers ............................................................................................................... 739 22.3.2 Umpires ................................................................................................................... 741
22.4 What Are the Advantages and Disadvantages of the Appraisal Process? ................ 742 22.5 The Appraisal Process ....................................................................................................... 742
22.5.1 Demand for Appraisal .......................................................................................... 743 22.5.2 Selecting the Appraisers ....................................................................................... 743 22.5.3 Selecting an Umpire .............................................................................................. 746 22.5.4 Onsite Meeting ....................................................................................................... 747 22.5.5 Making an Award .................................................................................................. 749
References ..................................................................................................................................... 751
PURPOSE/OBJECTIVES:
The purpose of this chapter is to:
• Explain the insurance appraisal process and why the insurance appraisal is used.
