A Bird's Eye View on Home Improvement

Insurance Appraisers

Licensed Professional Public Appraisers

Posted by on Aug 5, 2017 in Insurance Appraisers | 0 comments

According to the Texas Department of Insurance, a public insurance adjuster is a person who, for direct, indirect, or any other compensation acts on behalf of an insured, another Public Insurance Adjuster; or a person who advertises, solicits business, investigates, settles, or adjusts or advises or assists an insured with the settlement of a claim or claims for loss or damage under any policy of insurance covering real or personal property, or holds himself or herself out to the public in negotiating for, or effecting the settlement of a claim or claims for loss or damage under any policy of insurance covering real or personal property.

Making an appraisal is giving an opinion of value by a licensed professional appraiser. It involves many issues, including study of appropriate market areas; gathering and analysis of information relevant to a property; and the knowledge, experience, and expert judgment of an appraiser. Any type of property may require an appraisal too including single-family homes, condominiums, apartment buildings, office buildings, industrial sites, shopping centers, and farms. Performing a real property appraisal is done for various reasons, such as when real property needs to be sold, taxed, mortgaged, developed or insured.

An appraiser is required to provide objective and unbiased opinions on the value of real property, especially when it is damaged due to a natural disaster. He or she estimates the value of insured items, evaluates insurance claims, and decides whether an insurance company should pay a claim, and if so, how much.

The K2 consulting & Services, LLC, believe that in order to get an accurate estimate and inventory of personal or commercial property, owners need to be represented by licensed public appraisers. Much of the value of an appraisal will come from the knowledge and assessment of the appraiser, so it is essential to work with an appraiser who has an eye for detail, knows the insurance process, and is looking out for your best interests.

Read More