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Connecticut Insurance Appraisals

What is a Connecticut insurance appraiser? First, understand that the terms “appraiser” and “estimator” are one and the same. There really is no difference. If you have a Connecticut insurance claim and subsequent settlement, a claim appraiser might be needed as part of the Insurance appraisal provision. This process takes place when an insurance policyholder is in disagreement with the insurance company settlement. Instead of fighting in court to straighten out the disagreement, the appraisal clause is used for determining a decent final settlement offer. Both the policyholder and the insurance company hire their own insurance appraiser to calculate the cost of damage.

Together, the two hired claim appraisers then work to find a compromise that both the insurance company and the policyholder can handle. By using insurance appraisers, lengthy Connecticut litigation and court appearances are not needed. The job of claim appraisers is to appraise the damages and the cost of an insured loss and work together with the other party’s appraiser to navigate the disagreement and come to an agreed final settlement dollar figure. Generally we see that 99% of the time the two can reach an agreement. However, on very rare occasions the matter is escalated a step further and a third appraiser is brought in to act as an umpire and decide which of the two first two appraisers is correct.

A good claim appraiser must be familiar with the insurance industry and the appraisal process. They must attempt to reach an equitable settlement based on what they know and what appears fair and reasonable. If you have an insurance problem in Connecticut, selecting a skilled insurance claims appraiser is your best option to settle a disagreement quickly and fairly. It’s generally recommended that you select an appraiser who is also an experienced independent adjuster or home improvement contractor. That individual should also use the same type of estimating software that is common with the industry. This ensures that everyone is speaking the same language.  The claim appraiser should have the knowledge and tools to accurately review your losses. In addition, insurance appraisers should have superior communication and negotiation skills, working carefully on your behalf.

The professionals at Reliable Property Adjusting (RPA) can assist you with this process. We can work as either an appraiser or umpire for either the policy holder or the insurance company. Contact us to learn more.

To learn more about the in-depth legal aspects the appraisal process, feel free to read this legal brief on the matter. We use this as a means of navigating the process. Understanding the Insurance Policy Appraisal Clause- A Four-Step Process

If you are interested in hiring our firm to handle an appraisal for you, the following is our general fee schedule:

We charge a flat $150 per hour for the time and expense of our contractors or employees. This includes a review of damage estimates, meeting other appraisers or umpires, writing reports and conclusions, and property inspections. We also charge a mileage rate of $1.25 per mile. This accounts for the drive time of our staff member and the vehicle costs. We have found this to be better than charging an hourly rate for drive time.