Question

A survey to determine a property’s insurable value, or the amount of a loss is termed as?

Q: Answer-A survey to determine a property’s insurable value, or the amount of a loss is termed as?

An appraisal is a valuation of property, such as real estate, a business or an antique, by the estimate of an authorized person. To make a valid appraisal, the authorized person must have a designation from a regulatory body governing the jurisdiction of the appraiser. Appraisals are typically used for taxation purposes or to determine a possible selling price for the property in question.