How the Insurance Appraisal Process Works

Insurance Appraisal Process Colorado Springs, CO
On occasion, the insurance companies are unwilling to pay the present day, fair market value for the roof replacements. When this happens, the insured has the right to invoke the insurance appraisal process.

The Appraisal Provision allows the policyholder to hire an independent appraiser to determine the value of their damages. In turn, the insurance company will also hire their own independent appraiser. The two appraisers will then get together and select an umpire. The umpire is basically an arbitrator, or what you might call the judge. If a disagreement between the two appraisers arises, they can present their differences to the umpire who will make a ruling. These three individuals are known as the Appraisal Panel. The object of the Panel is to determine The Amount of Loss. The Amount of Loss is the total dollar amount needed to return the damaged property (your roof and/or any other damaged property) back to its original condition, either by repair or replacement.

What Happens Now?

Once the Appraisal Panel is set, the policyholder’s chosen appraiser and the insurance company’s chosen appraiser will review the documents, inspections, and differences between them. The two independent appraisers will try to discuss and resolve the differences in damage and in cost. The two appraisers will discuss their reasons for their position and try to come to an agreement.

Sometimes issues arise where the two independent appraisers can’t agree on certain items. In this event, the two appraisers will submit their difference to the chosen umpire. The three will discuss the issues and try to reach an agreed settlement of the differences. As stated above, the settlement or final number is called The Amount of Loss. The final amount is known as the Appraisal Award. Once any TWO of the three individuals on the Appraisal Panel sign the award…the dispute is over! The amount on the Award is binding and is paid by the insurance company, to the policyholder. This amount will be due and payable to the contractor as it reflects the final negotiated total amount for the roof replacement.

The appraisal process is a time consuming process and should not be invoked until after your insurance carrier has made it clear that they are unwilling to negotiate to the present day, fair market value. Most insurance carriers attempt to be fair in their settlements, so appraisals are not always necessary.

Integrity Roofing and Painting IconIntegrity Roofing and Painting

115 North Union Boulevard, Colorado Springs

4.8 514 reviews

  • Avatar Stephanie Wilcox ★★★★★ in the last week
    Our house was hit by hail in June of 2023. My in-laws had used Integrity Roofing and had a great experience so they recommended we do the same. We are so thankful we did. Troy Richert was wonderful to work with. He helped answer all … More of my questions and was always willing to go find out more information if I needed it. When our insurance was being difficult, Integrity Roofing made sure we had any information we needed and were great about following up with us as we waited on adjusters. Their repair and installation teams were thorough, courteous and prompt. Integrity Roofing was helpful and completed the work to our satisfaction. Thank you!
  • Avatar Jay Barnish ★★★★★ 2 months ago
    Integrity roofing is great! Jackson is really helpful and takes his time to answer questions. He will make sure you understand what's going on and ensure you're getting the best options and deals. Thanks!
  • Avatar Dan Smith ★★★★★ 3 months ago
    I have used Integrity Roofing three times this past year. I had a leaky skylight they fixed and then a few months later we had terrific hail damage and they replaced the roof on our home as well as a rental property we were looking to … More sell. The pricing always seemed fair. They worked with our insurance company and actually joined the insurance inspector on the roofs to jointly inspect the damage and come to a consensus. They got the work done quickly and handled all the paperwork as well. We had gutter damage and they handled that as well as painted our entire home. Carter and Andi were my main contacts and they were always easy to work with keep me informed of all the steps along the way. I would recommend them and this company to anyone.

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