What is the purpose of having an umpire in the appraisal process?

The purpose of having an umpire in the appraisal process is primarily to resolve disputes between appraisers. When two appraisers evaluate a property and arrive at different values, the presence of an umpire becomes crucial. The umpire is a neutral third party who is brought in to provide an expert opinion, helping to mediate the differences by reviewing the appraisals and making a final decision that both parties can agree upon. This process ensures a fair and balanced resolution, preventing potential conflicts from escalating and facilitating a smoother claims process.

The other options do not align with the fundamental role of an umpire in this context. For example, the umpire does not serve to increase costs associated with appraisals but rather to streamline and resolve disputes efficiently. Additionally, the umpire's function is not related to ensuring equal payment for appraisers; rather, they focus on mediating valuation discrepancies. Lastly, while they may indirectly support the insurer's interests by seeking fair resolutions, their primary responsibility is to provide impartial judgment rather than explicitly representing insurer interests.