Appraisal Clause

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Appraisal Clause

In insurance, a clause in a policy giving both the insurance company and the policyholder the right to demand an appraisal to determine the value of an insured property. This protects both parties in the event of a dispute over the value of a loss.
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The court reasoned that prohibiting appraisers from determining causation would undermine the purpose of the appraisal clause, which is to avoid litigation and encourage settlement.