How Long Does an Appraisal (Alternative Dispute Resolution) Take in Florida?
Appraisal can speed up your insurance claim when it has been stalled due to an impasse with your insurance company. However, certain conditions must first be met between the policy holder and the insurance company. If the post loss conditions have been met to the satisfaction of the insurance company then the speed of an appraisal proceeding may become dependent on who you hire as your appraiser and who the insurance carrier hires as their appraiser.
The Florida Insurance Company usually has twenty days to allow for the appraisal process to go forward and start the appraisal by naming their appraiser.
Then the two named appraisers generally have between ten and fifteen days to agree upon an umpire? All dates are dependent on the particular language in the policyholder’s insurance policy.
An appraiser who is not experienced can slow down the process. It's also important that you hire an appraiser who has substantial contacts within the Florida appraisal -umpire industry as this will dramatically increase the efficiency of the process, especially in appointing an umpire.
Typically, experienced appraiser will have worked with a lots of carrier appraisers and know which umpires that will be fair and impartial. The past experience all helps determine which umpires that might not be fair and impartial as they have a working relationship with the appraiser or insurance carrier itself.
I have handled appraisals that were settled from start to finish in two weeks while others took a few months. On average, an appraisal in Florida takes between 90-120 days whereas a lawsuit will usually take from one and half years to four years.
The difference in reality becomes a choice between having a jury, with no experience in insurance matters listen to the evidence and decide how much you are owed? Versus having two experts in the insurance – construction field determine the carrier’s financial responsibility. Ultimately, whether you choose appraisal or litigation, cost factors, speed and expertise will play a role, and that is why homeowners have been utilizing the appraisal process more than ever.