What Is an Insurance Appraiser and What Do They Do?

When a policyholder files an insurance claim, the insurer must assess the value of the reported damage to determine the amount of settlement proposed to the claimant. Therefore, insurance companies often send an insurance appraiser to assess, evaluate and provide a comprehensive report on the property damage.

However, homeowner or business owner policies contain an appraisal clause that allows both parties to hire professional appraisers?if they fail to agree on a settlement amount. Let’s take a deeper look into the role of an insurance appraiser.

Understanding The Role of an Insurance Appraiser

A property insurance appraiser is a qualified individual hired by policyholders and insurance companies to provide a professional, unbiased and expert opinion on the value of the damages incurred by the home or business owner.

The insurance appraiser?will typically do the following:

·?Investigate, examine and help in settling insurance claims.

·?Inspect the property, take photographs of the damages

·?Write and estimate for the damages

·?Negotiate with the other Appraiser to set the amount of the loss.

·?Agree to an umpire with the other appraiser should the two appraisers not agree on the amount of the loss.

Invoking the Appraisal Clause in Texas

All property insurance policies in Texas have an appraisal clause. However, the actual appraisal process can vary between companies and insurance contracts. Therefore, checking the conditions section of your insurance policy to understand your rights on invoking the appraisal clause and how it works is essential.

The appraisal clause in your contract will probably state something like the following:

“If you (the claimant) and we (the insurer) fail to agree on the valuation of the damages, then either party has the right to demand a fair appraisal of the loss incurred. In such circumstances, both parties will hire a professional and unbiased appraiser within xx days of receiving a written request from each other.

The two appraisers will conduct independent valuations of the loss and may submit a written agreement to both parties to settle the matter. In a situation where both appraisers can’t come to a logical conclusion, they’ll hire an insurance umpire and submit their differences.”

As mentioned, both parties will be required to hire an insurance appraiser, and both should pay for their services. Both parties will also be required to split the cost of the appraisal and umpire if needed.

The Cost of an Insurance Appraiser

In most cases, insurance appraisers will provide a detailed quotation of their fees and charges upfront. The cost can vary depending on the location of the property and the severity of the damages. The average cost of an appraiser providing professional services in Texas may range between $1,000 to $5,000. Make sure to decide on the cost upfront to avoid surprises at the end.

Finding The Right Property Damage Appraiser in Texas

It is essential to find the right insurance appraiser for your property damage. Insurance companies have a strong network and connections that help them find qualified and experienced appraisers.

As a policyholder, you should do your homework and find an experienced and reliable damage appraiser. Ideally, the appraiser you choose should be an expert and must know the intricacies of dealing with insurance claims. Hiring the right professional can improve your chances of receiving a fair outcome.

Should You Hire an Insurance Appraiser?

Hiring an insurance appraiser is probably the most cost-effective way to resolve a dispute with your insurer. You can add substance to your claim through the expertise of your chosen appraiser without initiating costly legal proceedings.

The terms of invoking an insurance appraisal process would be included in your contract, and it is widely used by Texans to settle insurance claims. The robust appraisal in your favor will prevent an insurance company from dragging its feet, offering a lowball settlement, or denying your claim for no good reason.

How To Hire an Insurance Appraiser?

As mentioned above, you can’t deny the importance of having a qualified insurance appraiser by your side. However, finding one can be easier said than done. If you’re looking for one, you’ve come to the right place.

Morgan Elite Specialist Services are licensed Public?& Residential Claims Adjuster?In?Texas?with extensive experience in all aspects of insurance claims. The company has extensive experience in dealing with high-profile claims, and its proactive approach to handling complex issues has won them several plaudits throughout the years.

Morgan Elite Specialist Services provides impeccable services, which include public adjusting, insurance appraisals, diminished value calculations, estimates, risk and building consulting, forensic accounting, and expert witness. You can visit their website for more information?or contact them today?for more details.