Appraisal

An appraisal is an estimate of the value of property or the extent of property damage in a claim. While estimates are usually prepared by the adjusters on either side of a claim, there are situations where the two parties reach an impasse as to the value of certain items or an expert appraiser is brought in as a third party to accurately determine the value of property in a particularly complex claim. Regardless of which party requests an appraisal, both parties will need to retain their own appraisers, who will meet and negotiate the value of the property in question.  

In such case that the opposing appraisers also cannot reach an agreement, a neutral third party known as an umpire, who is a trained appraiser themselves, will be retained to resolve the issue.

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