Invoke The Appraisal Clause. You Have Every Right To.
Oklahoma city Appraisal Clause
You have every right to demand an appraisal of the loss of value to your vehicle.
An appraisal clause is a contractual provision in an insurance policy that outlines a procedure for determining a loss. It can be useful in situations where the insured and insurer cannot agree on an estimate, such as when a loss is purely financial. An appraisal is only required when one party demands it. This is an important aspect of an insurance policy.
There are a few important things to note about an appraisal clause. It is best to seek out an appraiser who is “disinterested” and who is not the auto repairer. While it is tempting to seek the services of a body tech from a competing facility, it is better to hire an independent appraisal company.
An appraiser is paid by both parties and is responsible for determining the value of the vehicle.
Appraisal Clause Claims
When you’re in an auto accident, the appraisers will need to determine whether or not you were at fault for the accident.
A qualified appraiser can assess the value of a vehicle to help determine whether a vehicle has diminished value. If the diminished value is greater than 25% of the vehicle’s fair market retail price, the insurer must compensate you for the difference.
If you are in a disagreement with the insurance company, speak to our vehicle appraisers.