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

4.7 554 reviews

  • Avatar Alton S ★★★★★ a week ago
    Integrity Roofing was easily accessed, provided a prompt appointment and within a week, my roofing project (removed downdraft evaporator, closed opening and replaced shingles). The work crew was very professional and throughly cleaned up … More all trash and removed from my property.
    I was completely satisfied and recommend Integrity Roofing for roof repairs.
  • Avatar Janine Nutche ★★★★★ 2 weeks ago
    I had an excellent experience with Integrity Roofing and Painting, particularly working with Jordan. From start to finish, Jordan was incredibly professional and efficient, helping navigate the insurance process to get my roof and gutters … More replaced. He was patient, always taking the time to answer my questions and explain the process clearly. Even after the insurance project was completed, I reached out to have gutter guards installed, and they were more than happy to assist. The entire team worked quickly, professionally, and with great attention to detail. I highly recommend Integrity Roofing and Painting for anyone in need of roofing or gutter services, specifically Jordan!
  • Avatar Ralph Marmolejo ★★★★★ a month ago
    Jacob was very helpful through the process. Jacob went above and beyond and made sure my insurance claim was approved.
    Jerr was very helpful with the paper works and answer all of my questions with warranty etc.
    Nick was very good at
    … More communicating about the contractor scheduled and even with the delayed weather the job was able to get done in a timely manner.
    "INTEGRITY" Roofing Team really lives up to its name and I'm happy I went with them for my roofing needs.