There are always alternatives to litigation with the insurance company if you have suffered a misfortune, such as a fire, hurricane, theft, etc. Your financial interests and the insurance company’s interests are opposed. You want the maximum payout, and they want the minimum reimbursement, even if you pay a lot of money for the insurance.
Therefore, there are several alternatives to help you work with your insurers. Mediation is a form of litigation. It is a voluntary process for informally negotiating a dispute. As the word implies, a third party is required to arbitrate the dispute. Arbitration is more formal than mediation and can be irrevocable or irrefutable.
The arbitrator may work with both parties to reach a resolution. Finally, the evaluation or appraisal can be quick and inexpensive or slow and expensive. It depends on which appraiser and arbitrator the parties choose. Both parties have a common goal: to resolve the dispute over the amount of damages.