Appraisal Cost Acknowledgement

Appraisal or Arbitration is an ADR(Alternative Dispute Resolution) method that involves submitting a dispute to an impartial third party. Engagement of this process means your insurance policy specifically allows for arbitration of disputes. Appraisal is a very common method to resolve the value of a loss. The results of an appraisal and settlement amount can vary and are dependent on your policy, i.e all endorsements, exclusions and limits. Appraisal incurs a cost and they are fully explained below:

Appraiser Cost: $500-$3,000 more or less dependent on time and travel (Paid by insured). Commercial Claims prices vary.

 

Umpire Cost: $500-$3,000.00 more or less dependent on time and travel (Paid by insured and insurance company). Commercial Claims prices vary. 

 

Example:

Total Cost is $3,000.00

Insured: $1,500.00
Insurance Company: $1,500.00

 

Overall Cost Example:

Settlement Amount without umpire

The following are removed from a settlement amount: depreciation and prior payment if applicable and your deductible.

 

Settlement Amount (RCV)

Less Depreciation if applicable

Less Deductible

Less Prior Payment if applicable

Less Bulldog Percentage Agreed per your contract

Less Appraiser Cost

Less Umpire Invoice if Applicable

After all deductions, that will be the amount issued.

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The undersigned hereby confirms and acknowledges that the process of Appraisal will incur costs and that they will be deducted from the Settlement Amount issued upon completion of the appraisal. In the event, of the appraiser and umpire not getting paid the individual third-party will seek their own process of collection. Bulldog Adjusters Inc., is not liable or responsible for payment of any sort to the third-party appraiser or umpire. We are subject to the umpire's decision and are not responsible or liable per their decision.

Please Note: The settlement amount, costs and Bulldog percentage reflected are all just an example to assist in the understanding of the process.