How the Insurance Appraisal Process Works

Insurance Appraisal Process Colorado Springs, CO
On occasion, the insurance companies are unwilling to pay the present day, fair market value for the roof replacements. When this happens, the insured has the right to invoke the insurance appraisal process.

The Appraisal Provision allows the policyholder to hire an independent appraiser to determine the value of their damages. In turn, the insurance company will also hire their own independent appraiser. The two appraisers will then get together and select an umpire. The umpire is basically an arbitrator, or what you might call the judge. If a disagreement between the two appraisers arises, they can present their differences to the umpire who will make a ruling. These three individuals are known as the Appraisal Panel. The object of the Panel is to determine The Amount of Loss. The Amount of Loss is the total dollar amount needed to return the damaged property (your roof and/or any other damaged property) back to its original condition, either by repair or replacement.

What Happens Now?

Once the Appraisal Panel is set, the policyholder’s chosen appraiser and the insurance company’s chosen appraiser will review the documents, inspections, and differences between them. The two independent appraisers will try to discuss and resolve the differences in damage and in cost. The two appraisers will discuss their reasons for their position and try to come to an agreement.

Sometimes issues arise where the two independent appraisers can’t agree on certain items. In this event, the two appraisers will submit their difference to the chosen umpire. The three will discuss the issues and try to reach an agreed settlement of the differences. As stated above, the settlement or final number is called The Amount of Loss. The final amount is known as the Appraisal Award. Once any TWO of the three individuals on the Appraisal Panel sign the award…the dispute is over! The amount on the Award is binding and is paid by the insurance company, to the policyholder. This amount will be due and payable to the contractor as it reflects the final negotiated total amount for the roof replacement.

The appraisal process is a time consuming process and should not be invoked until after your insurance carrier has made it clear that they are unwilling to negotiate to the present day, fair market value. Most insurance carriers attempt to be fair in their settlements, so appraisals are not always necessary.

Integrity Roofing and Painting IconIntegrity Roofing and Painting

115 North Union Boulevard, Colorado Springs

4.8 473 reviews

  • Avatar Lee Ann Crawford ★★★★★ 4 months ago
    Great company! They were very responsive, professional and thorough. Fast service—They Installed the roof just a couple days after we signed the contract. Cleanup was exceptional. We needed new gutters and they made arrangements with another … More company to install the gutters. We were very pleased. We highly recommend this company. We loved working with Jeff. He kept us updated on every step of the project.
  • Avatar Timothy Ferguson ★★★★★ 5 months ago
    I hired Integrity Roofing and Painting after I flagged Ken down on the street as they were wrapping up on a neighbors house. Ken was extremely helpful, supportive as we struggled with what was to us a large purchase, and was responsive … More even when I asked him questions on a weekend as I made my decision. He was patient and allowed me my space to make the decision and then once I made it he walked me through the process, made sure I understood everything (along with the fact that to him Integrity really was what he valued), and then kept in constant communication with me as we scheduled, and then finally installed. The crew that showed up were amazingly hard workers and did everything they could to get done as quickly as possible. They cleaned up so well I haven't found anything but a super small piece of paper that got away and ended up hidden in the bushes. To me that is amazing because it is a lot they have to manage as they rip off the old roof. Ken checked in often with the crew and myself for the 1 day and 2 hours they were on site. That is fast, we had a large roof (I don't remember what the number of squares, but it was large). So fast crew, conscientious crew, great communication and great finished project.Services: Roof installation, Skylight installation
  • Avatar Deb Wieczorek ★★★★★ 5 months ago
    During the sale of my home, I was made aware that my roof needed to be replaced. The closing was scheduled for 3 weeks out so time was limited. I used Integrity to perform an inspection and confirm the damage. Integrity not only met with … More the Inspector, but relieved my concerns by walking me through the process and assured me that they would expedite the installation.They did an amazing job! Myself and the new homeowners were completely satisfied. I would highly recommend them and use them again ~Deb WieczorekServices: Roof inspection, Roof installation

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