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Appraisal vs Hiring a Lawyer – Which is Faster to get a Claim Settled?

Appraisal vs Lawyer Which is Faster

Under the new Florida Law starting Jul 1, 2021, if your property damage insurance claim was underpaid or lowballed by your Florida insurance company?  There are a whole new set of complicated rules and procedures that have just been enacted.

The Florida insurance company has 90 days to initially settle your claim. After the first 90 days under the new Florida insurance law, the insurance company now requires a Ten Day Mandatory Pre-Suit Notice that gives the insurance company ten days to either continue to deny your coverage or accept coverage and pay you something for your insurance claim.

This notice of a dispute forces the policy holder to hire an attorney to complete the proper legal paperwork and detail the pre-suit demand.

After the insurance company is notified of the claim dispute, the Florida Insurance carriers now have an additional 14 days to reinspect your damages under this new law.

Then after the 14 day additional inspection, the Florida insurance company can now request the policy holder to go to mediation thru the State of Florida or Appraisal. Your options will depend on the language in your particular insurance policy and your understanding of each process.  This additional dispute resolution process must be completed in 90 days.

The new Florida Insurance Claim time line can be summarized as follows.

  • 90 days from date you reported your claim to determine coverage or pay the undisputed amount of the loss.
  • 10 day Mandatory Pre Suite notice to insurance company
  • 14 days Insurance Company can reinspect the claim
  • 90 days Insurance Company can request mediation or appraisal

Mediation through the Florida Department of Financial Service is a non-binding process that usually take two or three months to get to the mediation table. Not binding means that the insurance company does not have to fairly negotiate the disputed insurance claim to arrive at a settlement.  Many people have learned the hard way that they are back where they began after going to mediation. Or still end up out of pocket for their insurable damages.

There are only two binding options of dispute resolution against the Florida Insurance Carriers. Either hire an attorney and bring a lawsuit against the insurance company, or enter into another type of alternative dispute resolution utilizing the appraisal process.  That is, if the appraisal process is included as part of the language of your particular insurance policy. If the mediation or appraisal is not completed within that 90-day timeframe, the insured may immediately hire an attorney and file suit without providing additional notice to the insurer.

As a Florida Insurance policy holder, unless your claim was initially denied and the insurance company stands on their original denial, you now have more hoops to jump thru and it will most likely take from the date of loss to a minimum of 204 days before you can sue your insurance company. Then you have to add the additional time it will take a lawyer to get to court in order to settle your case. The Florida Insurance claim process was exceedingly long before, and just got longer.

Call Florida Insurance Claim Appraisal at 954-978-0886 and we will review your insurance policy at no cost to see if appraisal is a possible option?

Your home, condominium, or commercial building has suffered damages and you want to get your life back together as soon as possible. We understand the policy holder’s frustration and how the lengthy the claim process has now become. Insurance Claim Appraisal might expedite the settlement of your claim.