The Insurance Science of Disability

If you are young and healthy, you probably have given little thought to the notion of disability insurance. Most employees in this age-range may even scoff it off as negligible in view of their youth.

“Disability insurance? “Compensation if I become unable to work?” they may exclaim. “Why, this is coverage that I do not really need.”

If you would speak to the professionals – those in the trenches when it comes to related liability and insurance claims, you would hear a very different story. In fact, the discussion would lead you to be ever so grateful that you are covered!

Deep down, every person understands that any blessing we have in life should never be taken for granted. Car accidents, business mishaps, home devastation – all these things happen. Likewise no one can guarantee that sickness or illness will not disrupt a life once devoid of it – regardless of the current station one finds oneself in.

Need more on the matter? Here are the sobering facts:

• 1 in 4 young people in the age bracket of twenty years suffer from a long-term illness or injury.

• Each year, there are over 700,000 paid workers and employees that are awarded social security disability insurance benefits.

• In general, 1 in every 15 employees files a short-term disability claim per year.

• Almost fifty percent of all Americans do not have the money to fund a four hundred dollar medical emergency.

• Breaking or fracturing a leg may cause a three month or longer employment disruption.

• On the average, a long term disability insurance claim lasts longer than two years and six months.

• A work related physical disability can be the result of varying factors, including chronic headaches, ongoing backaches, cancer related treatments, treatment, the birth of a new baby, loss of eyesight, heart disease, mental and emotional illness and stokes as well as other maladies and situations.

• The average income of newly graduating higher education students is approximately $1,101. Weigh that with the average long-term disability maximum claim of $125,450 of loss of income.

With the current available data about young working people, a disability that renders someone incapable of working would have devastating effects without the proper insurance coverage.

Did you know?

• Thirty five percent of young employees experience difficulties in meeting everyday monthly costs.

• Close to 70 percent of all US citizens do not have even a thousand dollars in savings.

• To make matters worse, thirty-one percent of those in the age bracket of eighteen years to thirty years have no savings at all.

Life has its monetary responsibilities. These may include rent, mortgage, student loans, auto payments and more. Shield your earnings and the ability to make ends meet by making sure you have protective indemnity of disability insurance.

Source by M Wyzanski

High Paying AdSense Keywords Exposed

When you are dealing with AdSense, one must always remember to check for the right keywords and niche to maximize your profits.

If you are dealing with the wrong keywords, then you are going to earn a lot less in your AdSense check. The amount of clicks that you get from your effort and traffic will not differ much, what really makes a difference are keywords that actually pay well.

Below we explore some of these keywords and explain why they’re so valuable and why you should give it a try with the listed keywords below.

List of high paying AdSense keywords in 2012

donate car to charity California ($130.25)

donate car for tax credit ($126.65)

donate cars in ma ($125.58)

donate your car Sacramento ($118.20)

how to donate a car in California ($111.21)

donate your car for kids ($106.01)

car insurance quotes Colorado ($100.93)

Nunavut culture ($99.52)

Dayton freight lines ($99.39)

harddrive data recovery services ($98.59)

donate a car in Maryland ($98.51)

motor replacements ($98.43)

cheap domain registration hosting ($98.39)

donating a car in Maryland ($98.20)

donate cars Illinois ($98.13)

criminal defense attorneys Florida ($98.07)

best criminal lawyer in Arizona ($97.93)

car insurance quotes Utah ($97.92)

life insurance co Lincoln ($97.07)

Holland Michigan college ($95.74)

online motor insurance quotes ($95.73)

online colledges ($95.65)

paperport promotional code ($95.13)

onlineclasses ($95.06)

world trade center footage ($95.02)

massage school Dallas Texas ($94.90)

psychic for free ($94.61)

donate old cars to charity ($94.55)

low credit line credit cards ($94.49)

Dallas mesothelioma attorneys ($94.33)

car insurance quotes MN ($94.29)

donate your car for money ($94.01)

cheap auto insurance in VA ($93.84)

met auto ($93.70)

forensics online course ($93.51)

home phone internet bundle ($93.32)

donating used cars to charity ($93.17)

phd in counseling education ($92.99)

neuson ($92.89)

car insurance quotes pa ($92.88)

royalty free images stock ($92.76)

car insurance in South Dakota ($92.72)

email bulk service ($92.55)

webex costs ($92.38)

cheap car insurance for ladies ($92.23)

cheap car insurance in virginia ($92.03)

register free domains ($92.03)

better conferencing calls ($91.44)

futuristic architecture ($91.44)

mortgage adviser ($91.29)

This is by no means a complete list of keywords, but it should serve to help us understand these keywords better.

The highest paying keyword on the list now is “donate car to charity California ($130.25)”.

However, this keyword is a localized keyword and is based on California. All the localized keywords will mean one thing to AdSense advertisers, and that is limited traffic. Hence in order to start an entire AdSense themed site for a keyword that is targeted at one single area alone could be a risk. You will not know if it is paying off or not.

If it does pay off, then you will realize that it is indeed a golden keyword where each click from your site visitor will gross you for $130.25! That’s a lot of money. If your site can rank high on the search engines and get around 100 visits a day with just a 10% click you’ll earn over $1000 dollars.

It’s very lucrative yes but in reality, you are actually going to have to work very hard for a high-value keyword such as this to rank high on the search engines. Not only that, you will find it quite difficult to get enough traffic from California alone. Hence you will need a very strong traffic strategy for this kind of keyword.

Scrolling further down the list you will find a keyword that says ‘hard drive data recovery services ($98.59)’. This keyword is golden because it is not a localized keyword. You can be sure to be able to get a lot of traffic because the keyword can come from any state of the country and thus the amount of searchers for these keywords is surely going to be very high.

And if you take a look at the price per click, $98.59 is not bad at all. There you should always go for this kind of keywords in your campaign. Note that the competition on these keywords will surely be very high, and that you will have to work extra hard to make it pay off. The thing is, once it pays off, you will definitely be able to make a great amount of money, and all your efforts will be worthwhile.

If you take a quick glance at the list above you will find that many of these keywords are localized words and thus making the game that much harder to win at. A good strategy is to choose multiple keywords and try to rank high for all the terms but this would require a lot of work, and usually this strategy is used by larger affiliates who have a workforce to get all the work done for them.

There are a lot more of these high-paying keywords, and they could vary each year. Therefore, a good advice for newcomer AdSense marketers is to keep a look out for high-paying keywords and try your best to focus on one or two of the keywords first. When you are able to nail just one of these keywords down and start earning, you’ll be in for a huge treat indeed.

Source by Max Kim

A Promissory Note Trap-Lending Without Understanding Is Costly

The Story

Names and locations have been changed to protect privacy. The widow, Paula Raymond, was 84 years old and feeling the effects of aging. She had been living alone after the death of her husband in 2009. She lived in the same 60-year-old house they bought 55 years ago, in 1954. The house had not been updated since its purchase, was in need of repairs, and was now too large for her. She decided to gift it to her only grandson, Jack, who was 22 years old. Paula, being frugal, purchased a Quit Claim Deed form at the stationary store, filled in the blanks and presented it to Jack. He took it to the courthouse and had it recorded.

Shortly after that, in 2009, Paula moved into an assisted living facility. Jack decided to modernize the house and then sell it. He obtained construction bids from three reputable contractors and accepted a $75,000 bid. Jack’s father, Robert, agreed to lend Jack $75,000 that was evidenced by a promissory note secured by a mortgage on the property. Robert agreed to become a financial partner in the project. Their plan was to do a first-class modernization job and sell for a profit. This was in the spring of 2010.

Jack went on the internet and downloaded a blank promissory note form and a mortgage form, filled them out, executed them, gave Robert the executed note, and recorded the mortgage. Four months later the modernization job was completed, and the property was listed for sale with a local Realtor for $450,000. After being on the market for 60 days, it went under contract at the full listed price. The Realtor arranged for the closing with a local title insurance company. A Title Insurance Commitment was order.

Title Problems are Discovered

When Paula and her husband purchased the property in 1954, they closed the transaction with the seller themselves; there were no title insurance companies in the community. No updated title information had been obtained on the property for 56 years. The Title Commitment ordered in 2010, showed numerous title problems. Jack, Robert, and the Realtor were confronted with the following issues stated in the 2010 Title Commitment:

  1. The deed conveying title to Paula and her husband was not notarized.
  2. When Paula and her husband purchased, there was an unreleased mortgage of record that was owed by the sellers.
  3. When Paula and her husband purchased, there was an unreleased judgment lien of record owed by the sellers.
  4. A fresh survey showed the winding driveway from the main road to the house encroached on a neighboring parcel of land.
  5. A fresh survey showed the storage shed at the rear of the property, and the properties rear fence, encroached on an other neighboring parcel of land.

Title Problems are Dealt With

The buyers’ attorney reviewed the Title Commitment; he advised his clients to exercise an escape clause in the purchase contract and to terminate the contract. Now Jack and Robert owned a newly remodeled, $450,000, vacant house; it had a $75,000 promissory note and mortgage on; it couldn’t be sold until five complex title issues were resolved. In addition to the title problems, the general real estate market, and the local property values, were all declining.

To resolve the five title problems required engaging a local attorney who had to negotiate with several other attorneys representing the other adjoining property owners to resolve the encroachment issues. He also had to do a Quiet Title Action to clear the defects caused by the unreleased liens.

It took eighteen months and $24,000 in legal fees and costs to resolve the five title issues. In early 2013, the property was re-listed for sale. Its market value had declined 15% during the time it was off the market: from $450,000 to $382,500–a $67,500 decline. During the eighteen months the property was vacant, the taxes, insurance, lawn care, and heat and light costs amounted to $2,600. When the property finally went under contract the buyer couldn’t qualify for a bank loan. Jack and Robert decided to provide the buyer with seller financing. They carried the loan for five years at 5.0% interest.

The total cost of the mishandled title issues was a sales proceeds decrease of $94,100 and not receiving cash from the sale for five years.


Honest, well intended, individuals applying commonsense procedures to technical legal matters can inadvertently destroy values. Not knowing what one does not know results in a costly learning experience.

Source by Lawrence Tepper

Bundling Medical Insurance Codes – Stop Loosing Money To "Bundled" Medical Insurance Claims

What exactly is “bundling” anyway? It is when an insurance carrier combines two or more CPT codes, substituting one overarching code, often ignoring modifiers along the way. This practice can cut down on your receivables. When codes are bundled, the codes are grouped together and the insurance carrier will only allow the fee schedule allowance for the one code that they feel is appropriate.

There are ways to get around bundling. First you need to make sure you are billing the claim properly on the initial submission. For example, if you are billing for an E&M code for a patient who comes in with high blood pressure but the patient is also complaining of knee pain and you end up doing an aspiration of the knee joint, then you need to make sure you use the correct modifiers to indicate what you are doing. You want to bill the E&M code, say it is a 99213, with a 25 modifier to indicate that it is a separate and distinct service provided during the same visit. Then you would bill for the aspiration of the knee joint with the appropriate code using a 59 modifier to indicate a distinct procedural service.

It is quite necessary to know the proper use of all the different modifiers to get full reimbursement for your services. Also as important is the ability to read an EOB (explanation of benefits statement) correctly. EOBs can be fairly complicated and it is important to understand what the insurance company did with the claim.

When the claim is processed and you receive the EOB you need to make sure the insurance company allowed both codes separately. After all, you did an office visit to manage to high blood pressure and you did the aspiration which was completely separate from the office visit.

If the insurance carrier bundles your codes you should file an appeal. In many cases the insurance carrier will reprocess the claim and unbundled the codes if you go through the appeal process.

The appeal does not have to be complicated. It can be a form letter that you design where you just need to fill in the blanks. A lot of carriers bundle the claims on initial processing because the majority of offices will not appeal the claim. Just think how much money they save!

You may think that it’s not worth the time to appeal but you may be surprised if you knew how much money you actually lost over time. If you have a system in place to file the appeals that is a fairly simple process it won’t take much time and you can increase your receivables. In my opinion, it is worth the effort.

Copyright 2007 – Michele Redmond

Source by Michele Redmond

What is Mesothelioma?

Pleural mesothelioma is one of the most common types of lung cancer and is usually brought on by exposure to asbestos. When asbestos is inhaled, the micro fibers pass down the airways and become embedded in the pleura ( the thin outer lining of the lungs). This induces serious scarring and chronic inflammatory lesions on this delicate tissue. Over a period of time these lesions and scars slowly develop into pleural mesothelioma, a deadly form of lung cancer for which there is no definative cure. These asbestos micro fibers sometimes also settle in the abdomen, leading to the development of peritoneal mesothelioma. This type of cancer, although less common, is just as deadly.

Just like asbestosis, pleural and peritoneal mesothelioma usually have a long period of dormancy after exposure before clinical signs start to show. In fact some patients do not show symptoms for 40 years after exposure.

The common symptoms of pleural mesothelioma are:

Coughing up small amounts of blood

Stomach / belly pain

Shortness of breath/ wheezing

Chronic cough

Chronic fatigue

Weight loss

Chest pain

Unfortunately mesothelioma (both pleural or peritoneal) is in most cases fatal. Sadly most patients die within two to three years of diagnosis. However, recently researchers have made great steps in finding useful treatments for the disease.

Available Mesothelioma Treatments are:

Palliative drainage of fluid from the chest (pleural cavity)




Gene therapy

Photodynamic therapy


If you have been diagnosed with asbestosis, mesothelioma, or asbestos exposure-related lung cancer, you could be entitled to compensation, depending on when you were exposed, where you were exposed, and where the companies you believe to be responsible currently reside.

Source by David Barnet

Insure Your Home Against Natural Disasters

Are you familiar with the term “all risk” insurance? Your answer is probably ‘yes, of course’. But are you sure you understand it properly? You may feel inclined to think that it covers all hazards, as the name implies. It is indeed the broadest kind of property policy that can be acquired, but this doesn’t mean that it indemnifies all losses. Only losses which are not specifically excluded are automatically covered.

So, pay special attention to the list of exclusions. Otherwise, you may have the unpleasant surprise to discover that, after your property has been damaged, the insurance company will simply not pay, because the disaster that had hit you was on the exclusions list.

Typical homeowners policies usually offer protection against damage-causing events like fire, lightning, explosion, falling objects, wind and theft. They do not include coverage of devastation provoked by natural disasters. Natural disasters refer to phenomena, such as a hurricane, tsunami, flood, drought, an earthquake, a landslide, a volcanic eruption etc. that cause extensive human casualties and/or property damage.

Considering that in our today’s world calamities can strike at any time in almost any place – from Australia to Hawaii, from Chile to India, from the USA to China – we are all potentially exposed to the vagaries of nature. That is why, in order to strengthen our feeling of security, it is good to provide our belongings with a natural disasters policy. Sometimes they are sold as a separate policy to supplement an existing one. Other times, for an additional annual fee, insurers will add calamities coverage to the existing agreement.

For business professionals who provide advice to their customers it is of vital importance to benefit from a professional indemnity insurance, as a cover for claims brought against them due to their professional negligence. We have in view experts from the fields of Accounting and Finance Service, Building, Transport Industries, Architecture etc. who are subject to negligent act, error or omission. Similarly, for properties situated in areas prone to natural hazards it is to the same extent of capital importance to rely on a safe haven: natural disasters insurance.

Source by Jack Wogan

Top 7 Questions to Ask When Evaluating Income Protection Insurance

If comparing income protection insurance options was simply a matter of comparing prices of the various policies on offer, it would be a relatively easy task… but with the large number of policy variations in the market – all designed with different outcomes in mind, the job can be quite complex for the uninitiated. In this article I have identified what I think are the main things that you might consider in conjunction with price to ensure that you are getting true value for your insurance dollar.

1. How is ‘disablement’ defined under the policy?

The definition of disability is the door that you will need to unlock in order to get paid under an income protection insurance policy.

Some policies express disablement as being incapacitated to an extent where you are unable to do certain duties of your occupation, other policies base their definition on your capacity to continue to earn income. A few policies offer a combination of both.

There are also many variations within these two main definitions which could effect your ability to make a claim.

Remember, your insurance policy is a legal contract between you and your insurer – so the way that things are defined in that document will shape the way your policy works at claim time.

2. How long will my income policy continue to pay me if I have a major claim?

Some policies will continue to pay for a lifetime in the event of a permanent disability and others have benefits that cease after just 12 months.

There are also many policies on the market that have a different maximum claim period depending whether your income protection claim is as result of an accident as opposed to illness.

If you have (or are considering) a policy with a different payout for injury vs illness then you will also need to ask…

(a) how both injury and illness are defined in the policy and…

(b) whether a claim could be jeopardised if complications that arise indirectly from an injury are classified as an illness.

3. How long after I make a disability insurance claim do I have to wait before I can get paid?

Policies can have an excess of 7, 14, 30 days or even longer before you become entitled to claim payments. The longer that you can afford to manage financially before needing a replacement income, the cheaper the price.

You should also find out whether the policy pays weekly, fortnightly, monthly in arrears, etc.

If an income protection policy has a 30 day excess and pays monthly in arrears then you could be waiting 2 months or more before you start to see the money flow.

4. How much will my income protection policy actually pay me each month if I have a claim?

More specifically, you should find out whether the amount insured is an agreed value amount or whether your claim entitlement calculated based on actual pre-disability earnings that could vary depending on when you claim.

It’s possible, depending on your policy, that you may be required to prove your income at claim time whilst other policies accept proof of income at the time the insurance is purchased.

5. How does my income insurance cover me if I am partially disabled?

You will need to be aware of…

a) whether the policy includes benefits for disablement that limits your earning capacity but does not prevent you from working altogether and

b) whether partial disablement benefits are restricted to allow payment only after you have had a period of total disablement. Remember, there are many illnesses in particular that are degenerative in their nature and could impact on your ability to survive financially.

6. How do my income protection insurance rates change over time?

Rates can be fixed for the term of the policy or stepped, i.e. they increase over time. They may also increase further with CPI.

Most importantly, you will want to know whether there is any rate penalty that you may incur as a result of having a claim.

7. What assistance does the income policy provide assistance with rehabilitation?

After a long term disability in particular, there may be a point in time when you feel that you want to get back into the workforce in order to improve your position.

It’s important that you know whether the company will assist you in this way or whether they will hinder you by offsetting any future income that you may earn against future benefit payments.

Source by Andrew Clark

The Different Types of Asbestos

Asbestos is a naturally occurring mineral. It does not conduct heat or electricity, is chemically inert, odorless, fire-resistant and insoluble. These physical properties made the mineral suitable for a wide range of commercial applications. Some products that contain it are: adhesives, brake pads, clutch plates, ceiling tiles, wall panels, shingles, electrical breakers, fire curtains and boiler insulation. There are six types of asbestos. These are tremolite, actinolite, chrysotile, anthophyllite, amosite and crocidolite.

Tremolite was not used as extensively in products as other types of asbestos. However, it was used in products such as talcum powder. This type of asbestos is found in ultramafic rock that can be found in the U.S., Europe and other regions. The color of tremolite can vary from brown to gray or white to green.

Actinolite can be found in metamorphic rocks. It can be green, white or grey in color. Its commercial applications include home insulation products and vermiculite products.

Chrysotile is also known as white asbestos is the most commonly observed type of asbestos. It is different from other types in that it has curled fibers. Other types have straight and needle-like fibers.

Aanthophyllite occurs in ultramafic rocks. It is less commonly encountered than other types of asbestos. It is more commonly found in countries such as Norway and Finland. It is dark brown in color. Aanthophyllite has been used in cement tiles, insulation material and plumbing related products.

Amosite is also known as brown asbestos or Grunerite. Its origin can be traced to Africa. Commercial applications of amosite include cement sheet and pipe insulation.

Crocidolite is also known as blue asbestos. It can be found in Africa and Australia. It accounts for about 4% of the asbestos that was used in the U.S. Although, it is often blue in color, it can also be grey. About 18% of people who have mined crocidolite have died from mesothelioma. Crocidolite was used to make cement products.

Exposure to asbestos can lead to cancers such as lung cancer and malignant mesothelioma. People suffering from these illnesses need to explore their legal options because the law allows substantial financial compensation to those who have been recklessly exposed to asbestos. Legal claims for compensation however, must be filed in a timely manner. An experienced mesothelioma attorney can obtain significant financial assistance for a mesothelioma patient from a mesothelioma settlement.

Source by Hameem Kader

Business Tax Deductions

As we enter mid-March, taxpayers begin to become very

interested in deductions. Following are a few that

you may be entitled to claim.

Deductible Expenses

· Office expenses

· Rent or lease payments

· Advertising

· Costs of goods sold

· Insurance costs

· Utilities

· Payments to independent contractors [file form 1099]

· Accounting fees

· Legal fees

· Communication expenses

· Credit Card Interest for business charges

· Travel expenses

· Vehicle expenses

· Business-related meals and entertainment

· Uncollected receivables

· Bank fees on business accounts

· Interest payments on notes

· Excise and fuel taxes

· Employment taxes

· Real estate tax paid on business property

· Special local assessments for repairs or maintenance to

business property

· Promotional costs that create goodwill such as sponsoring

a youth team

· Business association dues

· Business-related magazines

· Casualty losses

· Beverage services

· Credit bureau fees

· Taxi fares

· Telephone calls made on trips

· Self-employment tax [if applicable]

Sales Tax Deduction Option

The American Jobs Creation Act of 2004 provides all

taxpayers with the option to claim a deduction for state and

local sales taxes instead of state and local income taxes.

If you purchased a high cost item during 2004, you may find

that the total sales tax you pay far exceeds your state

income tax payment. If so, you should determine whether you

should claim a larger deduction by using the IRS Optional

State Sales Tax Tables found in IRS Publication 600.

The new sales tax deduction is a windfall for taxpayers in

Alaska, Florida, Nevada, Texas, Washington, South Dakota and

Wyoming. These states do not tax the income of their

residents, which makes the sales tax deduction a very

valuable deduction indeed! Regardless, taxpayers in all

states should the possibility of claiming a sales tax


Source by Richard Chapo

Insurance Appraisal Clause – Resolving an Impasse in Your Claim

What if, after all you’ve done, you and your adjuster/insurance company are at an impasse on the value of your property? It’s now time to invoke the Appraisal Clause in your insurance policy. The Appraisal Clause is found in all insurance policies, and was designed to establish a procedure to allow disputed amounts to be resolved by disinterested parties. The appraisal clause can be found in every homeowners policy, in every policy covering commercial buildings, in all business policies, as well as in every renters policy…even automobile policies.

The Appraisal Clause is usually found in the policy under the Heading “Conditions” and/or “What to do after a loss.”

Don’t confuse the Appraisal process with Arbitration. The Appraisal Clause does not bind either party to its findings. In arbitration, the findings of the arbitrator are usually binding on both parties.

The Appraisal Clause is meant to be the method for determining disputed values. Appraisal cannot be used to determine what is covered. That is for a court of law to decide. If you have dispute with the company on whether or not something is covered, then you must file a lawsuit against your insurer to get that determination.

HERE’S A REALLY IMPORTANT TIP!!! You don’t have to wait until you’re hopelessly deadlocked with the adjuster or insurance company to invoke the Appraisal Clause. The Appraisal procedure has been invoked more often by insurers, who have greater understanding of the terms and conditions of their policies. But you, the insured or policyholder, can do it any time.

I’m not suggesting that you become uncooperative. But occasionally, I talk to people who are having real difficulties with their adjuster or insurance company. Taking the claim to Appraisal sometimes stops all the drama.

In my experience as both an appraiser and an umpire, I’ve found that disputes can be resolved more quickly by appraisal than the resolution you might get with litigation. The cost of the appraisal process is also significantly lower that the cost of litigation.

Here’s what the Appraisal Clause reads in my Homeowner Insurance policy:

“If you and we fail to agree on the amount of loss, either may

demand an appraisal of the loss. In this event, each party will choose

a competent appraiser within 20 days after receiving a written request

from the other. The two appraisers will choose an umpire. If they

cannot agree upon an umpire within 15 days, you or we may request

that the choice be made by a judge of a court of record in the state

where the “residence premises” is located. The appraisers will

separately set the amount of loss. If the appraisers submit an

agreement to us, the amount agreed upon will be the amount of loss.

If they fail to agree, they will submit their differences to the umpire.

A decision agreed to by any two will set the amount of loss.

Each party will:

a. pay its own appraiser, and

b. Bear the other expenses of the appraisal and umpire equally.”

Each party appoints an independent, disinterested appraiser. In past experience, I’ve seen the insured or policyholder try to appoint the Public Adjuster who is handling his claim as the appraiser. This should never be done, as that PA is not a disinterested party.

The appraisers evaluate the loss independently. The appraisers can still negotiate and reach an agreed amount of the damages. But, if they cannot agree, they work together to choose a mutually acceptable umpire. If the two appraisers cannot agree on the selection of an umpire, either side may appeal to the local court for the appointment of someone to serve in that capacity.

An umpire must also be a disinterested party, and must be impartial, of good moral character and possessing a good reputation. He also must be willing to listen. No umpire should be chosen that has any financial interest in the outcome of the appraisal. Any other consideration other than the hourly rate of compensation for the umpire is not acceptable.

Once the umpire has been chosen, the appraisers each present their loss assessment. Often, this involves informal testimony from the parties involved in the claim. To help the umpire gain a more complete understanding of the details of the loss, the appraisers and the umpire sometimes meet at the loss location and review the loss details. The umpire will subsequently provide a written decision to both parties. If any two parties agree to the amount of the loss, that amount becomes the claim amount. However, if one of the parties does not agree, then the case can still be turned over to legal counsel for litigation.

Question: May the insured or insurer reject the other parties’ choice of appraiser?

Answer: In 2005, the New York Department of Insurance issued a ruling on this question as follows:

“Whether an appraiser appointed by either of the parties is competent and disinterested (or “independent”) is a question of fact for a jury and is outside the determination of this Department.”

ANOTHER TIP!! Notice that there are very specific time limits in the Clause. You MAKE SURE that you choose your appraiser and notify the adjuster within the time limit in your policy. The time limit for both appraisers to choose an umpire begins on the day that both sides choose their appraiser.

Watch very carefully to see if the insurance company and/or adjuster chooses their appraiser within that time limit. If they do not, they have violated the terms and conditions of their policy. You can file a complaint with your state’s Department of Insurance for Unfair Claims Practice violations.

My recommendation, in the event of an appraisal, is to call a Claims Consultant. You might also consider contacting a public adjusting company in your area. The Claims Consultant or PA know insurance policies, know the Appraisal Clause, and know property values. The Claims Consultant or PA are the perfect choices for helping you prove the values of the property of your claim.

Source by Russell Longcore