Originally published by Chip Merlin.
State Farm and Farmers have created new property insurance policy forms which significantly change the rules of appraisal. One of the trends of insurance coverage is that new policies are not being written with standard language, where years of case law have interpreted meanings of phrases used by all insurers. These two forms are perfect examples of this trend.
As noted in Insurance Appraisal Called “Almost Perfect Method” of Alternative Dispute Resolution, here is language which many policies have used as a standard appraisal clause:
Appraisal
If we and you disagree on the value of the property or the amount of the “loss,” either may make written demand for an appraisal of the “loss.” In this event, each party will select a competent and impartial appraiser. You and we must notify the other of the appraiser selected within twenty days of the written demand for appraisal. The two appraisers will select an umpire.
If the appraisers do not agree on the…
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