What role does an independent appraiser play in insurance claims?

The role of an independent appraiser in insurance claims is to provide an unbiased assessment of damages, which ensures that evaluations and settlements are fair and based on objective criteria. This impartiality allows for a credible appraisal that can help mitigate conflicts of interest that may arise when the interests of the insurance company and the policyholder diverge.

When an independent appraiser evaluates a claim, they rely on established methods and thorough inspections to determine the extent of damages and the resulting value. This process is crucial in forming a reliable basis for settlement negotiations between the insurance company and the policyholder. The goal is to achieve a resolution that is equitable to both parties, reflecting the true nature of the damage without favoritism.

While other roles might exist within the claims process, such as advocating for specific interests or ensuring agreement among parties, they do not align with the fundamental purpose of an independent appraiser, which is to remain neutral and support fair resolutions based on factual assessments.