What Results Can I Expect from Appraisal?
Our experts will only recommend Appraisal if we feel strongly that you will benefit from the process. In our experience, our clients who have gone to Appraisal have recovered significantly more money, with minimal risk, than the settlement offered by their insurance companies.
We have achieved results ranging from a 25% increase to over a 1,000% increase over the insurance company’s final pre-Appraisal offer. In fact, in every Appraisal that Globe Midwest Adjusters International has been involved in the amount awarded is higher than the insurance company’s final pre-Appraisal offer. This is because we only recommend Appraisal to our clients if we believe the amounts being offered by the insurance company are truly unfair.
In most cases, the insurance company will issue what is referred to as a “merit payment” for the undisputed value of the loss. That is, they will pay the amount they believe is owed. As such, if you have a legitimate claim for additional damages, there is almost no risk in going to Appraisal.
It is important to have someone on your side that understands the Appraisal process and can fight for what you are truly entitled to under the terms of your insurance policy. As we only recommend Appraisal when we feel strongly about the chances for success, we often receive dramatic results and obtain a substantial increase in the amount payable to the insured.
Below are some examples of Appraisal Awards we have received in both commercial and residential Appraisals.
Damage: Water damage to apartment building due to broken pipe Dispute: Scope and cost of repairs Insurance Company Offer: $1,881,249.00 Appraisal Award: $5,270,661.00 Increase: $3,389,412.00
Damage: Total loss to apartment building due to a fire Dispute: Actual Cash Value of the entire property Insurance Company Offer: $111,000.00 Appraisal Award: $325,000.00 Increase: $214,000.00
Damage: Water damage to office building during renovations Dispute: Loss of Income from existing and potential tenants Insurance Company Offer: $0.00 Appraisal Award: $1,034,314.00 Increase: $1,034,314.00
Damage: Tornado damage to house Dispute: Scope and cost of repairs to house Insurance Company Offer: $82,548.00 Appraisal Award: $200,000.00 Increase: $117,452.00
Damage: Water damage to house due to a broken pipe Dispute (1): Scope and cost of repairs to house Insurance Company Offer: $33,836.00 Appraisal Award: $503,636.00 Increase: $469,800.00 Damage: Water damage to house due to a broken pipe Dispute (2): Total loss contents (cost and whether or not totalled) Insurance Company Offer: $53,041.00 Appraisal Award: $262,190.00 Increase: $209,149.00