Are you searching for Spokane Valley, Washington, total loss appraisal clause experts? If so, you are not alone, a bunch of car owners whose vehicle was involved in an accident and declared a total loss do the same. But you need to search for reputable companies. We are ADR Claims, a team of professional appraisers, providing car owners with detailed and accurate appraisal reports and assisting them throughout the settlement process for many years. With our high-quality services, we have earned a huge name in the industry.
A total loss appraisal refers to the expert opinion on your vehicle’s fair market value after it’s totaled. The opinion is supported by a number of factors, including prices of comparable vehicles in the market, your car’s mileage, features, and condition before it was involved in an accident. When the insurance company deems your car a total loss and undervalues it, this appraisal report becomes the most powerful tool to receive a fair settlement.
The appraisal clause is a section that most insurance policies include. This section allows you to get a third-party opinion regarding the damage to your vehicle after an accident. After your car is deemed a total loss and the insurer offers a lower settlement amount, you can invoke this clause and get your car appraised in order to receive a fair payout. A car is declared a total loss after the vehicle’s estimated repair cost reaches or exceeds a certain percentage of its value.
You can search for Spokane Valley, Washington, total loss appraisal clause experts, and get your car appraised by one of them. However, when you file a total loss claim in Arizona or another state, consider the following things before invoking the total loss appraisal clause
The total loss appraisal process is a complicated one and can feel exhausting. But don’t worry, as we break it down for you in the following points.
First of all, write a letter to your insurance company, informing them that you are invoking the total loss appraisal clause, as you and the insurance company could not reach a mutually agreeable amount. You can also mail them, but they may overlook that, so sending a letter is best.
As per the clause, both you and the insurance company select a certified, independent appraiser. Both pay them for performing the evaluation. You should make sure that your selected appraiser is neutral and does not work for the insurance company.
Both selected appraisers independently evaluate the total loss amount of the vehicle and discuss what they find out. Then, they try to reach a mutually agreeable amount.
If the two appraisers aren’t able to reach a mutually agreeable amount, then they select a third-party appraiser, also known as a Umpire. The selected umpire takes the binding decision. Whatever amount the two of the three appraisers agree upon is determined to be the final settlement amount for the totaled car.
You receive a written appraisal award that contains the final settlement amount for your totaled car. Submit this appraisal award to your insurance company so they pay you the determined appraisal amount.
If you invoke the clause and get your car appraised, you will receive the following items.
We are ADR-Claims, a team of certified, experienced appraisers. If you are looking for Spokane Valley, Washington, total loss appraisal clause experts, your search ends here. We help you throughout the total loss claim settlement process by providing you with an accurate appraisal report and supporting you at every step. Suppose you filed a diminished value claim in California; we can help even with that. Our other services include arbitration and umpiring, state value appraisals, lease return inspections, physical damage inspections, etc.
