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Homeowners Insurance Appraisals

Homeowners Insurance Appraisals

Don’t look now, but insurance companies are moving disputes over homeowners’ policy claims into a potentially more expensive arena. Instead of having your day in court, you may end up with your hands tied and your wallet emptier by what’s called an appraisal.

The appraisal is not that evaluation of a home’s value for mortgage purposes; it’s a form of arbitration in which you hire an appraiser out of your own pocket to prove what you claimed under the rights set forth in your homeowners policy, should be paid. The insurance company also hires an appraiser of the damages and, if the two sides can’t agree, they split the difference and that’s how much money you receive, regardless of the actual amount it takes to repair your home properly.

This amount is binding, which means you can’t challenge the dollar amount in court. You can sue only if you can show that the process was flawed.

Insurers love to write appraisal requirements into your policy. Citizens Property Insurance Corp. used it more than 10,000 times between December 2017 and July 2018, according to an August 2018 article in the South Florida Sun-Sentinel.

An appraisal is less expensive and time-consuming than a lawsuit, saving insurance companies money. But it’s costlier for homeowners or third parties to make repairs because they must hire outside experts to support their claims.

That may mean you’ll have to accept the insurance company’s first offer because commissioning a review of repair expenses would be more expensive than the additional money would receive if your estimate prevails. The only reason you might go to appraisal is that the two sides’ numbers are so close that getting paid sooner without additional expense makes financial sense.

Now’s the time to pull your policy out of the file cabinet or safety deposit box and find the section on disputes. Does the word “appraisal” appear there? If so, do both sides have to agree to the process or can the insurer invoke it on its own? What must you do, such as hiring someone to estimate expenses?

Know that if you’ve assigned your policy benefits to the company repairing your home, that firm, not you, will have to pay for the appraiser in order to resolve money differences with the insurer. Because you won’t be receiving any repair-related funds, you’re not on the hook for the appraisal.

If the policy doesn’t mention appraisal, how are disputes resolved? Insurance Litigation Group, LLC (ILG) will go to court for you to seek the full amount needed to repair your home. We are a boutique law firm of experienced insurance litigation attorneys and legal assistants whose fees and most of our costs are paid by the insurance company.

What Our Clients Say

“We were so tired of non-returned phone calls from our insurance company. Their claim to having sent payment when they hadn’t was ridiculous. We had spent 6 months trying to resolve with no luck. We called Insurance Litigation Group and they resolved our claim simply and professionally.” 

G. Monin

“Thank you for your swift attention to my case.  Everything ran smoothly.  They gave me multiple options and always answered the phone!”

M. Close

“Excellent law firm if you are having trouble getting your Florida homeowners insurance company to pay your hurricane claim fairly. They have an excellent reputation in the panhandle and throughout Florida.” 

A. Fiske

“Best law firm to deal with Hurricane Michael  home insurance disputes. They understand how to maximize your insurance payout when dealing with insurance adjusters and claims departments. Highly recommend.”

I. Britton

“We hired ILG when our public adjuster could push no further with our insurance company to get our claim settled after Hurricane Michael and he advised us to file a lawsuit. We recently settled and received our final payment checks a couple of days ago. My husband and I are very pleased with the results. ILG did a great job for us. Thank God for people like this to help homeowners when insurance companies don’t want to pay out after a disaster! I highly recommend ILG.”

J. Moore

“I was very happy with the time and work that ILGpa did for me. Without their help I would not have the positive results that I received. Thank you so much for your help. I would recommend this group to anyone.”

M. Loranger

Our Offices

We are a client-focused law firm that fights aggressively on behalf of residential and commercial policyholders, contractors, restoration and mitigation companies, to produce maximum recovery results from insurance companies through our unique expertise, deep understanding of insurance law, cutting edge technology and proactive approach to litigation.

Insurance Litigation Group serves clients across the state of Florida. With over 7 offices statewide, our attorneys have the knowledge, skills and experience to resolve your dispute against the insurance company. 

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Contact Us

Contact us today about your situation so we can fight to get you paid. We can assist you in any coverage dispute, disagreement over liability or damages, or related matter.

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