insurance Claim Property Damage Appraisal & Estimating

Insurance Claims Expertise / Appraisal and Property Damage Estimating Services for Insurance Claims / Scope of Damages of an Insurance Property Loss

To get paid what you are owed for insurance claim settlements, it's crucial to have a detailed and well-documented estimate of the damage. Our services include preparing thorough estimates that covers all aspects of the damage, ensuring you receive the maximum compensation possible.

Additionally, if we encounter insurance companies acting in bad faith, we will assist our clients in recommending the various options they may pursue.

If you have any specific questions or need more information about property appraisal and estimating services for insurance claims, feel free to ask. We are Houston Property Loss Consultants, Appraisers and Estimators.

Maximizing Your Settlement

We meticulously evaluate the damages, including structural, personal property, and even the intangible effects of the loss. Our estimating skills and expertise in insurance claims means we will write up estimates that accurately and fully reflect the damages to property. These estimates can be used in the appraisal process. 

Peace of Mind Knowing You Have Your Own Great Estimate

The appraisal process in the context of insurance claims, often referred to as the "appraisal clause," is a dispute resolution mechanism that can be used when the policyholder and the insurance company disagree on the value of a claim. Here's how the appraisal process typically works:

1. Initiating the Appraisal: The process begins when either the policyholder or the insurance company requests an appraisal. This is usually done in writing, and both parties must agree to the appraisal. This is also called invoking the appraisal clause in the insurance policy.
2. Selecting Appraisers: Each party involved appoints an appraiser. These appraisers are usually independent and impartial experts in assessing property damage or loss. If they cannot agree on an appraiser, a neutral umpire may be appointed to help resolve the dispute.
3. Assessment: The two appraisers assess the damage independently. They examine the evidence and documents provided by both parties, which may include repair estimates, photos, and other relevant information.
4. Agreement on Value: Once the appraisers have completed their assessments, they attempt to reach an agreement on the value of the claim. If they agree, their decision is binding, and the insurance company must pay the agreed-upon amount.
5. Umpire's Involvement: If the appraisers cannot reach an agreement, they may turn to the appointed umpire for a final decision. The umpire reviews the assessments and makes a determination on the claim's value. This decision is also binding and must be accepted by both parties.
6. Payment and Resolution: Once a determination is made, the insurance company is obligated to pay the amount determined through the appraisal process. The policyholder can then use this payment to repair or replace the damaged property.

It's important to note that the appraisal process is typically binding, meaning that the decision reached is final and cannot be appealed. This process is designed to expedite the resolution of disputes regarding the value of insurance claims and avoid costly litigation.

Insurance Claims Follow These Strict Timelines:

Acknowledge your claim, beginning investigation of the claim and requesting relevant information from you, within 15 days after receiving your claim.

Within 15 days after receiving all relevant information it requested from you, the insurer must make a decision to accept or reject your claim.

If the carrier decides to accept your claim, it must pay the undisputed amount within 5 business days.

If the carrier needs more time to decide, it must inform you, and explain why it needs more time. But even if more time is needed, it must make a decision within 45 days of notifying you that it needs more time.

If the insurance company delays payment for more than 60 days after receiving all information necessary to decide your claim, the carrier “shall pay” interest and attorney’s fees, in addition to the amount of the claim.

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If you're facing the aftermath of a loss and need appraisal of the loss or detail breakdowns of the damage estimate we ensure a smooth and comprehensive estimate. With our experience and fair evaluation of the damages and the loss. 

Educate yourself and learn more by reading our insurance blog articles regarding appraisal and public adjuster estimating.