704.335.1111 No Obligation 7804 Fairview Road STE 343 Charlotte, NC 28226 Home About Us Our Services Services Media News Contact HomeInsurance Appraisal in Camden, NC Insurance Appraisal in Camden, NC You need to know about the quiet little Appraisal Clause… …most likely lying inconspicuously buried somewhere in your insurance policy – usually in the Conditions section, or possibly under What to Do After a Loss. If you have by chance come across this section of your policy, you may have wondered exactly what it provides. Or, if – like most policyholders – you have never noticed or read this section of your policy and may just now be learning about it, you need to read on and educate yourself as to its potential benefit to you. Have you and your insurance company reached an impasse? Does your company’s representative want to try to repair something that you believe needs instead to be completely replaced? Do you feel as if the insurance company is pressuring you to accept a settlement for your claim which is less than what you feel you are entitled to? Despite the fact that you have provided every bit of documentation requested by the insurance company, are you still unable to convince them that their figures are unrealistically too low for you to restore your property with the ‘like kind or quality’ materials promised by your insurance policy? The Appraisal provision of your insurance policy can provide a valuable opportunity for you as the policyholder to have a ‘second go’ at addressing these sorts of issues and finally settling your insured property-loss claim. Appraisal gives you the chance to have an objective and disinterested Appraiser of your choosing review the materials submitted in support of any disputed part of your claim. If you elect to do this, the insurance company will also select an Appraiser to review their estimates and yours. The two Appraisers – yours and theirs – will not only review but also compare and analyze all estimates, inventories, and other such documents in an effort to reach an agreement as to the correct dollar amount of any disputed portions of your claim. If the two of them are able to agree on any figures, then you as the insured will be offered the agreed-on amount, in what is known as an Award. Sound simple? Well, not really. What if the two Appraisers are not able to agree on everything? What then? No matter what, the most important aspect of this entire process involves knowing how to select the right kind of professional to serve as your Appraiser. Is the Appraisal process the same as Arbitration? No. Arbitration is a more formal legal means of resolving an issue that would otherwise need to go to trial. As such, arbitration is directly overseen by the court jurisdiction in which it occurs. The Appraisal Clause of your insurance policy, on the other hand, provides a procedure through which you and your insurance carrier can attempt to resolve your differences without court supervision, and in a less formal setting. What should I look for in selecting a good Appraiser? Who pays the Appraisers and the Umpire? Is an unbiased, disinterested Insurance Appraiser the same as a Real Estate Appraiser? Is an Insurance Appraiser, under the terms of my policy’s Appraisal Clause the same as an Antiques Appraiser? an Art Appraiser? a Jewelry Appraiser? Should I be worried if my insurance company has demanded Appraisal? Does that mean we are going to trial? What if the two Appraisers are not able to agree on everything? “It is devastating to see portions of your belongings in our century-old engineering and surveying firm completely burned — some partially charred and the rest singed and covered with smoke. After the insurance company’s adjuster asked us to give him a list of items damaged and lost within the building, as well as damages to the building itself, our 11-person staff floundered around for a week with no measurable results. It was such a relief when Baldwin showed up and said, ‘Put all your employees back to work on engineering problems, and let me handle the fire problems.” C. P. Palmer, Sr. Fire, Palmer & Mallard, Engineers/Surveyors Have you suffered a major property loss? If you’ve suffered a major loss, we meet with insurance representatives on your behalf to energetically pursue a timely, fair, and legitimate outcome. CONTACT US The Baldwin Company is a North and South Carolina based public adjuster. We specialize in helping clients get the most compensation for their insurance claims. Copyright © The Baldwin Company