Fort Lauderdale Insurance Appraisal Dispute Lawyer
In insurance matters, appraisals are a way to settle disputes between insurance companies and policyholders when they cannot agree to the value of a loss. When a disagreement arises, either side can invoke the appraisal clause included in most insurance policies. During the process, each side will hire an appraiser. The appraiser will investigate the loss and submit a report to an umpire. The umpire will review the findings of both sides and make an objective decision. These disputes are not easy to resolve, though. Our Fort Lauderdale insurance appraisal dispute lawyer can help you reach a resolution.
How to Request an Insurance Appraisal
You can request an insurance appraisal by sending the insurance company a formal written demand letter. The letter will outline why an evaluation is required, and the provisions in the insurance policy that allow for it. Each party will then find an appraiser to assess the damage. Each side will pay for their own appraiser. If the appraisers reach different conclusions, it is then necessary to hire an umpire. Both sides will share the cost of the umpire equally.
Why are Appraisals Denied?
There are many reasons insurance companies deny appraisals. The most common of these are as follows:
- Insufficient coverage: Insurance policies often only cover specific perils. If the damage is outside of the scope of these, the insurance company may deny the appraisal.
- Neglect: Insurance companies will not cover damage caused by neglect and so, they will not agree to an appraisal for this type of damage, either. For example, if you suffered water damage to your home because you failed to repair a broken water pipe, the insurer may deny an appraisal, as well as coverage.
- Lack of notice: Your insurance policy outlines a specific amount of time you have to notify the insurer of damage. If you fail to notify your insurance company within that time, they will likely deny coverage, and any appraisal for it.
How to Resolve Appraisal Disputes
If your insurance company has refused to engage in the appraisal process, there are steps you can take. If the insurer is acting in bad faith, you may be able to file a lawsuit against them to recover compensation for the actual damages, your legal fees, and more. However, it may not be necessary to go to court to obtain a favorable outcome.
You may be able to settle your dispute by entering mediation with the insurance company. During mediation, you and the insurer will meet with a neutral third party mediator who will try to foster compromise and communication. Mediators do not make final decisions, nor do they offer legal advice. They will simply try to help you reach an agreement regarding the appraisal dispute.
Our Insurance Appraisal Dispute Lawyer in Fort Lauderdale Can Protect Your Best Interests
Appraisal disputes are very difficult to resolve and it is important to work with someone who will protect your best interests. At Geyer Fuxa Tyler, our Fort Lauderdale insurance appraisal dispute lawyer can provide the representation you need to obtain the most favorable outcome possible. Call us now at (954) 990-5251 or chat with us online to schedule a consultation and to get the legal help you need.