Do you know what a public adjuster does or what services to expect?
Simply stated, public adjusters are insurance experts. The key is that they provide insurance adjusting services working exclusively for policyholders. In the state of Florida, public adjusters are licensed and regulated by the state.
The insurance experts at Reliant Insurance Adjusters have decades of hands-on experience, not just in public adjusting, but also in insurance appraisals. They serve as appraisers and umpires for the binding dispute resolution option of appraisal.
What is an Appraisal?
A policy provision known as Appraisal can be found under the Loss Settlement section of your insurance policy. It is an alternative dispute resolution that can be used to settle disputes when the policyholder and carrier cannot agree on the amount of the loss. It serves as an alternative to a lawsuit. The appraisal process does not address coverage issues, but depending on the state, it may include or exclude items based on causation.
While most insurance policies can differ, most policies include language addressing dispute resolution.
Appraisal language in a typical HO3 policy may read as follows:
If you and we fail to agree on the amount of loss, either may demand an appraisal of the loss. In this event, each party will choose competent appraiser within 20 days after receiving a written request from the other. The two appraisers will choose an umpire. If they cannot agree upon an umpire within 15 days, you or we may request that the choice be made by a judge of a court of record in the state where the “residence premises” is located. The appraisers will separately set the amount of the loss. If the appraisers submit a written report of an agreement to us, the amount agreed upon will be the amount of loss. If they fail to agree, they will submit their differences to the umpire. A decision agreed to by any two will set the amount of loss.
The Responsibilities of an Appraiser
The appraisers of the insured and the insurance carrier will meet at the property, estimate the damage and attempt to reach an agreement on the amount of loss.
If they cannot reach an agreement, the appraisers will present their disagreements to the umpire. The amount of the loss will be determined by an itemized decision agreed upon by two of these three. This decision is legally binding.
The cost of umpire will be split evenly between each party, and each will be responsible to pay for their own appraiser.
The experts at Reliant Insurance Adjusters have successfully completed all their education requirements with the Insurance Appraisal & Umpire Association, Windstorm Insurance Network and Florida Association of Public Insurance Adjusters.
Choose a Team You Can Trust
Settling insurance claims is a complicated, and often, overwhelming process. Allow us to give your claim our personal attention, whether you need a public adjuster, appraiser, or umpire. Contact us to get started.