When a property owner and an insurance carrier reach a disagreement regarding the total dollar amount of a loss, appraisal provides a structured, binding mechanism to establish the true cost of repairs without entering litigation.

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The Appraisal Process:

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1. Invoking Appraisal

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After coverage has been opened by the carrier, either party - the policyholder or the insurance carrier - sends formal written notice demanding appraisal after reaching an impasse on the cost or physical scope of repairs.

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2. Selecting Appraisers

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Each party appoints an independent, competent appraiser. The designated appraiser works objectively to evaluate the property damage and assess the line-item costs.

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3. Appraiser Negotiation

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The two appraisers inspect the property, review estimates and documentation, and attempt to agree on the full valuation of the loss.

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4. Selecting an Umpire

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Early in the process, the two appraisers agree upon a neutral third-party expert called an Umpire. If the appraisers cannot reach agreement on certain repair costs, the Umpire steps in to review the remaining differences.

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5. Executing the Appraisal Award

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An agreement signed by any two of the three panel members (the two appraisers or one appraiser and the umpire) sets the official financial determination. Once executed, this Appraisal Award is legally binding on both the policyholder and the insurance carrier.

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Whether you're a homeowner navigating a disputed claim, or an insurance carrier seeking a balanced file assessment, our team is here to bring unbiased clarity and resolution to the process. Contact Connecticut Insurance Appraisers today to discuss your dispute resolution needs.