Appraisal Clause

Understanding the Appraisal Clause and Its Benefits

The appraisal clause is an essential part of most insurance policies, providing a structured process for resolving disputes over the value of a claim. This clause aims to offer a fair and impartial method for determining disputed loss amounts for both policyholders and insurers.

When disagreements occur, invoking the appraisal clause allows both parties to appoint independent appraisers and, if necessary, an umpire to reach a binding resolution. We understand that the insurance claim process can be complex. That’s why we provide a free appraisal clause review conducted by our licensed adjusters. Our team is adept at identifying opportunities to resolve claim disputes efficiently and fairly.

With extensive industry expertise, we are well-equipped to explain the rights under the appraisal clause, outline the process, and guide you toward the best path forward.

STEPS TO INVOKE THE APPRAISAL CLAUSE

1) Contact L2 Claims for a consultation to determine if your claim is a good candidate to invoke the Appraisal Clause.

2) Retain L2 Claims as your appointed appraiser to represent you in this claim. The company’s and appraiser’s information will need to be provided to your insurance carrier at the first notification of appraisal.

3) Contact your insurance company in writing, stating that you are invoking your appraisal right due to the inability to reach a mutually agreeable settlement. It is advisable to review your insurance policy for specific language regarding the invocation of the Appraisal Clause.

4) Your insurance company will respond and select an independent appraiser to assess your vehicle and contact our company.

5) Your L2 Claims appraiser and the insurance company appraiser will share their results and attempt to reach an agreement. Both appraisers must agree on an umpire within 14 days of initial contact. If the appraisers cannot reach an agreement, the chosen umpire will decide the final award. The umpire’s decision is final.

6) Appraisal fees start at $395.00 for a standard automobile. Specialty vehicles and property damage claims are billed at $150 per hour. Specialty vehicles include RVs, heavy equipment, semi-trucks, classic automobiles, motorcycles, etc. Umpire fees vary depending on the claim and are split between the insured and insurance company.

7) In Oregon: If the final agreed value exceeds the insurance company’s last offer, then the insurance company must reimburse you for reasonable appraisal costs, including any umpire fees.

For more information on the Appraisal Clause process, or to determine if your claim is a good candidate, please contact our office for a free consultation.