How the Appraisal Clause Works
You May Have Appraisal Rights
Many insurance policies include what is called an appraisal clause. This clause gives you the right to dispute the insurance company’s valuation of your vehicle after a total loss.
If you disagree with their offer, you can hire an independent appraiser.
The Process
First, you contact Car Counselors and provide information about your vehicle and the insurance company’s valuation report.
Next, you notify your claims representative that you are invoking your appraisal rights.
The insurance company then hires its own independent appraiser.
From there, the two appraisers compare reports, review current market value, and work toward a fair settlement number.
What Happens If the Appraisers Disagree?
If the two appraisers cannot agree, the claim may go to an umpire. Both appraisers agree on an umpire, and the umpire’s decision becomes the final value.
In most cases, the appraisers are able to negotiate and reach an agreement without going that far.
Current Market Value Matters
Car Counselors does not rely only on book values. We look at what similar vehicles are actually selling for in the current market.
That means real-world comparables, real vehicle condition, mileage, features, and the cost to replace your automobile today.
