What Is an Insurance Appraisal?

When you and your insurance carrier cannot agree on the amount of your home or business claim, you have the option of requesting an appraisal and sending it to your insurance carrier. You may be familiar with the term “appraisal” as it relates to getting an educated opinion on the value of real estate or personal property. However, you may not be familiar with the insurance appraisal process. Your public adjuster knows when it is best to pursue appraisal to settle your home or business claim.

At Sentry, we walk you through the appraisal process to help you to get a fair settlement on your insurance claim. There are many options when it comes to settling insurance claims, but appraisal with a public adjuster has many benefits that other avenues may not offer.

What Is the Insurance Appraisal Process?

You may be unsure about how to dispute your claim with the insurance company; that’s why we’re here. Sentry will assist you and advocate for you every step of the way. The insurance appraisal process can be compressed into eight steps:

  • Step #1: requesting an appraisal and sending it to your insurance company. Some policies require only one of the parties to request appraisal, while others require both parties to agree to appraisal before it is accepted. Your public adjuster will review your policy to ensure the proper steps are taken to invoke appraisal.
  • Step #2: the policyholder and the insurance company each pick an appraiser to represent them in the appraisal process. The two appraisers choose a mutually agreed upon umpire, forming the appraisal panel.
  • Step#3: the panel reviews all items in dispute to determine the amount of loss.
  • Step #4: if there are remaining items in dispute, the panel inspects the damages and reviews documents, photos and all evidence.
  • Step #5: the panel discusses any discrepancies and tries to settle the differences between parties.
  • Step #6: the panel votes on a settlement decision; a majority vote ends any dispute.
  • Step #7:  the decision is officially finalized.
  • Step #8: the decision is delivered to the policyholder and the insurance company, and the insurer pays out the settlement.

The appraisal process can seem intimidating to a home or business owner. That’s why Sentry Public Adjusting is here to advocate for you throughout the claim process. We have years of experience and can help you settle your claim and get the funds necessary to repair your damages. Sentry will walk you through every step of the claim process from beginning to end. Appraisal can speed up the claim process, and Sentry will handle all of the tedious work for you.

What Are the Advantages of the Insurance Appraisal Process?

There are several reasons why an insurance appraisal may be what you need to expedite your claim. The list below compares the benefits of an insurance appraisal compared to hiring a lawyer.

Benefits of Insurance Appraisal with a Public Adjuster

  • Less costly
  • Less-formal process
  • No legal proceeding
  • Relatively fast (months instead of possibly years with other processes)

Downsides of Hiring a Lawyer to Handle Your Claim

How Can Sentry Help Me with My Insurance Appraisal?

Sentry Public Adjusting has decades of experience dealing with insurance companies and handling claims. Sentry also has many experienced individuals that can represent you in any dispute with the insurance-company-appointed appraiser. We know the language of insurance. Dealing with the insurance company is a large task when you’re trying to get your home or business repaired. Don’t add an insurance appraisal to the list of things you have to handle. Get Sentry on your side! Contact us today at 844-443-4357.