Escape Clauses Ruin Appraisal Process
Several states have adopted consumer unfriendly commercial property appraisal provisions. What these states have done is to remove the teeth from the appraisal provision by making participation in the appraisal process voluntary.
The way the appraisal currently works is this (quoting the commercial property policy): If the insurer and the insured “disagree on the value of the property or the amount of loss, either may make a written demand for an appraisal of the loss”–and either and demand are the operative words here.
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