What is an insurance appraisal?

An insurance appraisal is an assessment of the value of property for insurance purposes. It is typically conducted by a professional appraiser who is hired by the insurance company. In Hawaii, an insurance appraisal is used when determining the amount of an insurance claim. The appraiser will inspect the property and take into account factors such as age, condition, and location in order to determine the market value of the property. The insurance company will then use this value to determine the amount of the claim. Depending on the circumstances, the appraiser may also be asked to evaluate the damage to the property and make recommendations for repairs. The insurance company will then use this information to decide on the amount of the claim. Insurance appraisals are important as they help to protect the insurer from fraudulent claims and ensure that the policyholder is compensated adequately for any losses they have suffered.

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What is an insurance appraisal?

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