Yes, insurance companies often use claim appraisals to assess the extent of damage or loss when a policyholder files a claim. When a claim is made, an insurance adjuster is typically assigned to investigate the claim and determine the value of the damages or losses covered by the insurance policy.
The insurance adjuster may conduct an appraisal or work with independent appraisers or contractors to assess the damage. They evaluate the cost of repairs, replacement, or restoration based on factors such as the extent of the damage, prevailing market rates, and any applicable policy provisions. The appraisal process helps the insurance company determine the appropriate amount of compensation to be paid to the policyholder.
Insurance claim appraisal is particularly common in property insurance, such as homeowners insurance or commercial property insurance, where damage to buildings or personal property may occur due to fires, floods, or storms.
By conducting claim appraisals, insurance companies can ensure that the compensation provided to policyholders is fair and aligns with the terms and conditions outlined in the insurance policy. It helps prevent overpayment or underpayment and facilitates the resolution of claims transparently and objectively.
If you dispute the settlement offered by your insurance provider for your property damage claim, call Florida Insurance Claim Appraisal at 954-978-0886 to find out if you can settle your insurance claim by appraisal.