In many states, laws prohibit public appraisers from accepting any payment until a claim is resolved. That means that policyholders like you enjoy an extra layer of. This means that policyholders like you enjoy an extra layer of protection. This means that you don't have to pay your public appraiser until you decide to accept your insurance company's final offer.
It means that you have the power to accept or deny the final claim. If you're not happy with your insurance company's final offer, you can tell your public appraiser to keep pushing for a higher settlement. Public appraisers generally get paid when you accept your insurance company's final offer. In fact, in most cases, this is the only time the public appraiser gets paid.
Generally, you don't pay a penny to your public appraiser until you receive your final payment from your insurer. If any of those are the case, then it is advisable to obtain the paid services of a professional public appraiser. Sometimes, after a disaster, the insurance department sets the percentage that public appraisers can charge. Therefore, if you decide to exonerate a public appraiser who worked on your claim before the advance runs out, you may lose the rest.
Once you accept your insurance company's final offer, the public appraiser will be left with a pre-established portion of the final payment. Some people recommend hiring a public insurance adjuster to help you process claims and defend you when dealing with your insurance company. Public appraisers deposit the advance payment into a special trust account and deduct the cost of services as they accumulate in that account. An experienced public claims appraiser should be able to tell you how many hours you will have to work on the claim.
Always remember to set the rate and payment method with your public appraiser before entering into any agreement. In fact, if a public appraiser isn't willing to put a fee agreement in writing, don't even consider working with them. Similarly, if you're simply too busy to manage the claims process on your own and need help, a public appraiser may be an option for you. Thanks to this fee structure, which is usually a percentage of the final settlement, your public appraiser will be more motivated to request higher compensation.
Therefore, public appraisers have predetermined rules and restrictions on when, how much and the methods allowed to cover their expenses. You hire a public insurance appraiser to help you with the claim before you learn that your claim payment will be less than what you actually need to rebuild.
