So I recently hired a public adjuster for a major water damage that happened at the house. Definitely should have hired them much sooner. My adjuster called me and told me that the insurance adjuster do not want to continue the adjustments of the loss and instead wants to send this to appraisal. What does this mean? I know it's one step below lawsuit, but should i hire a lawyer or just have my PA become my appraiser?
What does it mean when home insurance would rather send my claim to an appraiser.
byu/WaterDamageNewHouse inInsurance
Posted by WaterDamageNewHouse
1 Comment
Appraisal is a condition in your policy that can be demanded by either you or by the insurer. You both elect a representative and then the representatives select a third person to serve as an umpire. Those 3 will review the damages and an agreement between any two of them determines the value of your claim that you and your insurer are legally bound to. You can’t use your PA as your representative because they have a financial stake in the outcome (i.e., their fee is a percentage of the claim value). You will be responsible for paying your representative and you will owe half of the costs for the umpire.