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Insurance Appraisals

Most property insurance policies contain an appraisal clause which reads:

If we and you disagree on the value of the property or the amount of the “loss,” either may make written demand for an appraisal of the “loss.” In this event, each party will select a competent and impartial appraisal. You and we must notify the other of the appraiser selected within twenty days of the written demand for appraisal. The two appraisers will select an umpire. If the appraisers do not agree on the selection of an umpire within 15 days, they must request selection of an umpire by a judge of a court having jurisdiction. The appraisers will state separately the value of the property and the amount of the “loss.” If they fail to agree, they will submit their differences to the umpire a decision agreed to by any two will be the appraised value of the property or amount of “loss.” If you make a written demand for an appraisal of the “loss” each party will:

  1. Pay its chosen appraiser; and
  2. Bear the other expenses of the appraisal and umpire equally.

Appraisal evolved over the years as a simple means to resolve issues related to the amount of loss. Simple, right? So….what is “loss”?

Appraisal is a legal process all to itself. It has different strategies, different players and different legal issues than typical litigation. Hoch Law Firm, PC has handled every aspect of the Appraisal process in commercial property insurance disputes.

Here are a few key issues of which to be aware in Appraisal:

  • Who will be your Appraiser?
  • Who will be the other Appraiser? Is the other Appraiser biased? Incompetent?
  • Who will be the Umpire?
  • Will you have a say in the selection of the Umpire?
  • What will Appraisal decide? Amount of loss? Actual cash value? Replacement cost value?
  • What are the time limits for Appraisal?
  • Will Appraisal address an apportionment of damage?
  • Will Appraisal address the date of loss?
Appraisal awards in property insurance coverage disputes are almost always binding. There is usually not a do-over. The process is too important to be entrusted to someone who has never handled one before. We have handled scores of Appraisals. We work with the finest, most reputable and most thorough Appraisers in Texas. Contact us today for help with insurance appraisals.
Client Reviews
Tim represented us in a dispute with our insurance company over roof damage due to a hail storm in the Dallas area. We were very disheartened by the constant denials and dishonest treatment we were receiving from the insurance carrier, and Tim counseled us to remain patient while he systematically put together expert opinions and facts that supported our claim. Eventually we were able to settle our case and had the roof replaced on our apartment building just two months before the big tornado hit in late 2015. Our investment property was the only one in the area that did not sustain any roof damage! We were lucky with our timing, but we were even more fortunate to have Tim on our side. We highly recommend Tim's firm! Allan and Marian Goodman
In short order, he was able to quickly understand and master the details of our case and map out a very cost-effective, efficient legal strategy. After a series of quick wins in court, our opponent came to the table with a highly satisfactory settlement. Mr. Hoch’s ability to effectively tell a persuasive story within the confines of a courtroom is without equal. Anthony Page
Tim’s knowledge and insight regarding not just the law, but business and human nature in general was greatly appreciated and relied upon as we navigated through a difficult situation. Tim has my utmost admiration and respect both on a personal and professional basis. Phillip A. Reinsch
We use Tim Hoch to handle complex business litigation matters on a variety of topics. He combines a strategic, no-frills approach with a bottom-line mindset. He is extremely responsive, organized and thorough. We would gladly recommend his services. Richard Warren, CEO