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Appraising

Their are two major things we need to know about property. What condition is it in and how much is it worth. In terms of the insurance claim business that translates into how much damage does it have, how much will it cost to repair it and how much would it cost to replace it. The two ways of going about acquiring such information is known as Estimating and Appraising.

Appraisal Services

Damage and repair estimates

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When any kind of property is damaged, some estimate of the amount of damage is necessary for a number of reasons.

	You need to know how much damage there is in order to determine the cost of making repairs.
	If the cost of making repairs is greater than the value of the property, it my be deemed to be a total loss. An estimate of the amount of damage is necessary
	No claim can be settled until the amount of damage has been firmly established.
	What if the damage is greater than policy limits? You need a damage or repair estimate to know.

Property Appraisals

Although the term is frequently misused, an appraisal of property is performed in order to establish its value, not the amount of damage. Value is not an easy term to understand. It means different things to different people. It means different things under varying circumstances.

Our appraisal services include:

	Replacement Cost
	Actual Cash Value
	Salvage Value
	Total Loss Evaluations
	Market Value
	Liquidation Value

Automobile

The appraisal of automobiles includes:

	Private passenger cars
	Light trucks
	Medium and Heavy trucks
	RV's
	Motorcycles

Real Property

The evaluation of real property includes land and improvements to the land. We do not do Real Estate appraisals. We do appraise the value of the things added to or attached to the real estate.

	Single family dwellings
	Apartment buildings
	Town houses
	Condominiums
	Mobile Homes
	Churches
	Motels
	Retail stores
	Convenience stores
	Theaters
	Industrial buildings

	Farm buildings
	Fences, towers, tanks, etc.

Personal Property

Placing a value on personal property due to its damage, destruction or disappearance is a specialty unto itself. A complete list is impossible for a web site. But, it is important to know that we prepare value appraisals of personal property for:

	Insured losses, such as thefts, fire and other covered perils.
	Estate evaluations for the disposal of property by heirs.
	Establishing the value of property in order to have it insured.
	In preparation for private sale of property by individuals.
	Loan evaluations for banks and other lending institutions.
	Antiques and collectibles.

Special Property

Although only a partial listing, we also appraise the value of:

	Heavy equipment
	Farm equipment
	Construction equipment
	Valuable papers and documents

	Businesses
	Accounts receivables
	Animals
	Crops
	Aircraft
	Airport support equipment
	Boats and other watercraft
	Communications equipment
	Banks and banking equipment

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Last modified: May 31, 2008