If your vehicle gets damaged and the insurance company determines its "Actual Cash Value" to be a certain amount, you don't have to agree to it. You can challenge their assessment using the Right of Appraisal Clause. This clause allows you, the policyholder, to dispute the total loss assessment provided by your insurance company. To do this, both you and your insurance company must choose an unbiased appraiser who is knowledgeable in the specific area of dispute. The appraisal clause process requires each side to pay their own independent appraisers. It's important to know that many total loss adjusters may not inform you of this option. So, if you're in this situation, remember to invoke the Right of Appraisal Clause and request an independent appraisal from a competent appraiser familiar with the process.
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