Why Does My Insurance Company Want An Appraisal?
You might hear the word appraisal and think of the appraisal you have done when you purchase a house. However, in the context of property insurance, appraisal means something very different. Most property policies provide for appraisal, a voluntary dispute resolution procedure used by insurance companies to avoid the court system. Appraisal is typically invoked by the insurance company when they have underpaid the claim.