total loss "ACV" Appraisal clause services

The Appraisal Clause in an auto policy can be a great resource for policyholders dealing with low settlement offers from insurance companies in Total Loss (Actual Cash Value) disputes. When a vehicle is deemed a Total Loss, getting the correct market value is key, and that’s often where insurance valuations miss the mark. It’s common to see newer cars valued 10% to 15% lower than they should be, which can mean thousands of dollars in lost compensation for the insured.

The truth is, most consumers don’t realize this policy clause exists and think they have no choice but to accept the amount the insurance company offers when they’re involved in a total loss settlement negotiation.

This clause is designed to protect policyholders and insurers alike by offering a fair and impartial mechanism for determining disputed loss amounts. When disagreements arise, invoking the appraisal clause allows both parties to appoint independent appraisers and, if necessary, an umpire to arrive at a binding resolution. 

This is where our firm steps in, working with either the insurance carrier or the policyholder to resolve matters professionally and cost-effectively, avoiding the need to involve attorneys or the courts. 

The IAS Claims team is licensed in most states across the U.S. and has decades of experience handling these types of claims. When Total Loss settlement negotiations hit a roadblock, we’re ready to step in and help.

For policyholders involved in a total loss value dispute, the first step is to review your policy or check with your claims adjuster to see if you have this clause. If you do, and you still believe there’s a significant value difference, you’ll likely need to engage an independent licensed auto appraiser to review your claim.

Here’s a brief guide for policyholders looking to begin the process with our firm for resolving a Total Loss auto valuation dispute.

1) Contact the IAS Claims team for a free consultation to see if your claim is a good candidate to invoke the Appraisal Clause. Email us the insurance carriers market valuation for review to claims@iasclaimsnetwork.com along with any other important documents for the assigned appraiser. This is usually the CCC or Mitchell valuations, along with invoices for major mechanical improvements and specialty aftermarket upgrades. We’ll also need to know if there are any aftermarket upgrade policy limits to consider.  Once we have the required documents, an appraiser will usually respond within two business days to let you know if it’s a case worth pursuing for appraisal. 

2) Choose our firm as your appraiser to represent you in this claim. Once you’re ready to proceed after the Total Loss review, the next step is to bring on the IAS Claims team as your Independent Appraiser. Just give our company and appraiser details to your insurance carrier when you first notify them of the appraisal to get things started. The insurance company will need to be notified in writing by you to start the appraisal process, and the assigned IAS appraiser can assist you with this.

3) How long does this process take? In most Total Loss auto value dispute cases involving the appraisal clause, it usually takes a few weeks to wrap up once both appraisers have been notified. If the case goes to an umpire, the process can take a couple of months.

4) Does an appraiser need to view the vehicle in person? In most appraisal clause cases, an in-person inspection of the loss unit isn’t usually needed. However, if one is needed, our fee will increase accordingly.

5) Does the IAS Claims Network team have licensed appraisers? The IAS claims team is licensed to manage claims nationwide, including in states like Oregon, Washington, and North Carolina that require state-specific licenses.

Start your Free Appraisal Clause Review by emailing us a copy of your insurance carriers market valuation report to claims@iasclaimsnetwork.com