LEGALLY SPEAKING www.mrca.org — Midwest Roofer 12 Introduction Property and Casualty (P&C) insurance provides essential protection against unforeseen property damages. However, disputes between policyholders and insurance companies over the cost and scope of damages can arise, leading to frustration and financial strain. In such cases, appraisal can serve as a vital tool for resolution. Yet, in recommending appraisal to policyholders, roofing contractors play a pivotal role in identifying and repairing damages. This underscores the importance of advising policyholders to seek legal counsel before initiating the appraisal process, aiming to shield roofing contractors from liability and safeguard policyholders from potential loss of essential remedies against insurers. Appraisal Process and its Importance One of the critical aspects of appraisal is its binding nature. Once the appraisal award is issued, it is usually considered final and legally binding, barring any exceptional circumstances. However, the insurance company still reserves its right to deny coverage and can refuse to pay the award. Therefore, policyholders must grasp the implications of pursuing this path, especially in states with intricate case law on the matter. Additionally, policyholders bear the costs of their appraiser and half of the umpire fee, if required, which can exacerbate financial strain. More importantly, these costs are typically not recoverable from the insurance company. Roofing contractors often act as the initial point of contact for policyholders dealing with storm damages, relying on their expertise in damage assessment and cost estimation. Consequently, policyholders frequently lean on their guidance during the insurance claims process. While recommending appraisal may seem straightforward, roofing contractors must exercise caution. Notably, appraisal determines the total loss amount, not solely roof damages. Failure to fully identify damages before appraisal may result in their omission. Moreover, roof damage disputes during appraisal are common due to assessment complexities, differing opinions on repair versus replacement, and disagreement over damage extent. Insurers may aim to minimize payouts, while policyholders advocate for comprehensive coverage. By: Michelle C. Le, Law Offices of Michelle C. Le, PLLC NAVIGATING APPRAISAL THE COST, RISKS, AND ROLE OF LEGAL CONSULTATION
View this content as a flipbook by clicking here.