What Does Appraisal Mean?

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What does Appraisal mean? Read on to discover the definition & meaning of the term Appraisal - to help you better understand the language used in insurance policies.

Appraisal

Appraisal

An appraisal is an estimate of the market value of an item by a certified professional. Appraisals can be assigned to nearly any item, including real estate. Appraisals are conducted by individuals called appraisers. Appraisers are educated in a variety of market valuation methods and are recognized by a regulatory authority as being capable of issuing an accurate valuation.

We hope the you have a better understanding of the meaning of Appraisal.

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