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Appraise the fair
market value of a vehicle that has
been involved in an accident or
theft. Of course it is always better to have a documented appraisal
prior to an
accident or theft, but even then, appraisals can be out of date and
most late
model cars don't require appraisals for insurance purposes. When a need
does
arise then the appraisal process is defined under most insurance
policies
"Appraisal" clause.
A typical appraisal clause reads as follows:
"Both you and (your insurance company) have a right to demand an appraisal of the loss. Each will appoint and pay a qualified appraiser. Other appraisal expenses will be shared equally. The two appraisers, or a judge of a court of record, will choose an umpire. Each appraiser will state the actual cash value and the amount of loss. If they disagree, they’ll submit their differences to the umpire. A written decision by any two of the three persons will determine the amount of the loss".
A typical appraisal clause reads as follows:
"Both you and (your insurance company) have a right to demand an appraisal of the loss. Each will appoint and pay a qualified appraiser. Other appraisal expenses will be shared equally. The two appraisers, or a judge of a court of record, will choose an umpire. Each appraiser will state the actual cash value and the amount of loss. If they disagree, they’ll submit their differences to the umpire. A written decision by any two of the three persons will determine the amount of the loss".
The Appraisal process ususally involves three phases as follows:
Phase 1: The initial appraisal. This phase tells you whether or not you have a sufficient case to go forward. The cost is quoted per assignment.
Phase 2: This phase
of the appraisal action
requires the two appraisers (your appraiser and the other parties
"independent" appraiser) to
select an impartial umpire first, and then attempt to negotiate the
value of the vehicle. The goal
for all of our clients is to successfully complete the appraisal
process in phase 2.
Phase 3: If the negotiation between the appraiser is unsuccessful than the selected umpire will have to hear this case and make a final decision. This requires participation in a formal umpire hearing and presenting evidence that will hopefully result in a favorable outcome.
Phase 2 and Phase 3 are at additional cost, as is one-half of the umpires fee if phase 3 is necessary.
Rest assured that this company takes into consideration all pertinent information when appraising a vehicles value including major mechanical repair history, prior ownership history, custom modifications, upgraded after market components and other material information.
Feel free to inquire about the cost of your specifc case.
Phase 3: If the negotiation between the appraiser is unsuccessful than the selected umpire will have to hear this case and make a final decision. This requires participation in a formal umpire hearing and presenting evidence that will hopefully result in a favorable outcome.
Phase 2 and Phase 3 are at additional cost, as is one-half of the umpires fee if phase 3 is necessary.
Rest assured that this company takes into consideration all pertinent information when appraising a vehicles value including major mechanical repair history, prior ownership history, custom modifications, upgraded after market components and other material information.
Feel free to inquire about the cost of your specifc case.
Court Adjudicated/Certified
Automobile Appraiser since 1980 - Expert Witness
Court Appointed Umpire - Past Senior Better Business Bureau Arbitrator – Archivist - On-site Inspections
31st Anniversary - 1979 to 2010
© COPYRIGHT 1979-2010/ALL RIGHTS RESERVED
Court Appointed Umpire - Past Senior Better Business Bureau Arbitrator – Archivist - On-site Inspections
31st Anniversary - 1979 to 2010
© COPYRIGHT 1979-2010/ALL RIGHTS RESERVED