Insurance Appraisal

An insurance appraisal is an expert assessment of the value of a property, item, or asset, typically used for insurance purposes. It involves a detailed evaluation to determine the replacement cost or current market value, ensuring that the item is adequately covered in case of loss or damage. This process helps both insurers and policyholders establish fair coverage amounts, avoid under- or over-insurance, and facilitate claims settlements that accurately reflect the property's worth.