Picture this scenario. A commercial building takes the brunt of a major storm. The roof takes a beating because of all the hail. The building’s insurance carrier estimates roof repair costs to be around $10,000. The building owner disagrees. From their perspective, the damage from the storm was severe enough to warrant a total roof replacement, which costs quite a bit more than the original estimator’s evaluation.
Enter: an appraisal. The appraisal clause in insurance agreements provides a mechanism to avoid litigation and can also provide an avenue of compromise. It’s important to remember that appraisal is an alternative to litigation, and a more amicable way of resolving differences.
When faced with more appraisals, the question is: How can we make them easier and quicker?
Consider the following 4 best practices insurance companies can engage to optimize the appraisal process:
While the number of appraisals may be on the rise, the appraisal process itself doesn’t have to get more complicated. Understanding how to best support the appraiser panel with the above best practices can help reduce friction and cost and ultimately speed up the timeline and resolution of the dispute.
For help with appraisals, reach out to RMC Group today.
This information is intended for informational purposes only. Each restoration project has unique properties and must be evaluated individually by knowledgeable consultants. Additionally, cutting samples of roof assemblies should be performed by qualified professionals and in some instances approved by the roofing manufacturer. RMC Group is not liable for any loss or damage arising out of or in connection with the use of this information.