Frequent Asked Questions

When you invoke your appraisal clause, your vehicle’s specific details are used to research your local market and calculate its fair market value. That value is then provided to the carrier’s appraiser, and once both appraisers agree, the settlement amount is sent to your insurance company for payment.If the appraisers cannot reach an agreement, an third appraiser can be engaged to resolve the value dispute and help finalize the settlement.RD Auto Appraisers help you maximize your settlement using factual research data.

A typical policy includes the appraisal is the remedy if the insured and the insurance carrier cannot agree on the vehicle’s actual cash value. Some states provide different remedies such as arbitration and your policy should be checked to determine your state’s remedy.If they cannot agree, the insured may invoke the appraisal clause by sending a written request to the carrier.The insured selects a competent appraiser and provides their contact information to the carrier.The insurance carrier selects an independent, competent appraiser.The two appraisers work together to determine the vehicle’s actual cash value.If they cannot agree, they jointly select a third competent appraiser to act as an umpire.The insured and the carrier each pay the cost of their own appraiser.If a third appraiser (umpire) is needed, that cost is shared by the parties.The appraisers’ role is limited to determining the actual cash value and providing a written appraisal signed by both appraisers.Buying a new car is usually the second most expensive purchase many consumers make, after the purchase of their home. Why would you agree to a settlement without a second opinion?

In some states, an insured has 60 days from the carrier’s settlement offer to demand an appraisal in writing.Review your policy to determine whether a specific time limit applies.