Appraisals are common when you are buying and selling a home. They are also required to reduce your property taxes. In addition, they are necessary if you have damage to your home that you want your homeowner’s insurance to pay for any property damaged or theft of your valuables in the future. These are some things to you should know about property insurance appraisal services Hialeah FL.
When To Get an Appraisal
You should always get an appraisal before purchasing your homeowner’s insurance. Insurance appraisals are also necessary if your home is damaged or any of your property is stolen and your insurance company provides you with a low valuation. In these cases, you may get an insurance appraisal from a qualified property insurance appraisal firm rather than hiring a costly attorney to fight your battle in court. Both parties, you and the insurance company, are bound by the amount the appraisal company determines is qualified property damage or loss.
What is Covered
Your homeowner’s insurance covers both your home and land as well as any valuables kept inside your home, so long as they are evaluated by the insurance appraiser when the policy is drawn up. Therefore, when your home is damaged by a natural disaster or accident, the insurance company pays to bring the home back to its original value, less any deductible. If your home is broken into and your valuables are stolen, as long as they are listed on and covered by your policy, the insurance company will pay to replace them.
If you have a claim, you need to hire a qualified appraiser quickly because the insurance company is required to determine the loss within a reasonable amount of time. The appraisal company cannot have any meaningful connection or obligation to either party of the dispute. Bias disqualifies an appraisal company, so your insurance company cannot mandate that you use specific appraisal services. The appraisal must be fair and impartial.
If you have experienced damage or theft in your home, consider working with a highly qualified, reputable appraiser to ensure you receive enough money to repair or replace your losses.