Frequently Asked Questions

Appraisal simply put is when the insurance company and the home or business owner cannot agree to a fair amount to settle for. Most policies allow for an independent 3rd party to come in for each side to close the gaps that exist. 

The appraisal fee can be paid by the home or business owner.

No, most recently some states do require a basic insurance license to be able to qualify but most states do not require the appraiser to be physically present. At Ivory Appraisals we are able to work with you remotely using the existing paperwork for the claim and video calls.

Time & Money. Appraisals have proven to be a much faster route to closing claims than going the traditional public adjuster or attorney route. It is not uncommon for a public adjuster to fully close claims between a 5-7 month time frame. Attorneys can often take a year or longer depending on the case.

Some states such as Florida you do need at least a 6:20. This is the basic insurance license used to be able to be an insurance adjuster or sell insurance. Most states do not.

Most Appraisals can close as fast as in 1-2 months. At Ivory Appraisals we never want to have the “ball sitting in our court” however some insurance company appraisers tend to move at a slower pace. 

An umpire is the final person to close claims if the appraisal results in an impasse. Most Umpires charge $3k for their services. This Fee is to be split by the home or business owner and the insurance company. An umpire does not have to be utilized and this fee will not come into play if the appraisers are able to come to an agreement.

Our theory is as follows….Insurance companies spend a lot of money on attorneys. Insurance carriers have an incentive not to spend money if they don’t have to. Appraisal is also used as a final step unlike mediation. Mediation is not binding and you can still sue if the mediation doesn’t lead to an agreement.