Alaska law requires that disputes with your insurance company about the value of a property loss you suffer be settled using an appraisal process.
In an appraisal, you and your insurance company each select an appraiser to represent you. The two appraisers then select an impartial umpire. The two appraisers separately state the value they place on your loss. If the appraisers agree on the amount of your loss, the agreed upon amount will be binding on you and your insurance company. If the two appraisers fail to agree on the amount of your loss, then they are required to promptly submit their differences to the umpire. A decision agreed to by one of the appraisers and the umpire will be binding on you and your insurance company.
You and your insurance company each pay the expenses for your own appraiser. The umpire determines who is responsible for paying all other expenses.
The appraisal clause in your insurance policy provides a means of resolving differences between you and the insurance company regarding the value of your property.