Appraiser

An appraiser is a professional trained in the assessment of the value of real or personal property. In the United States, appraisers are often appointed by the courts to place values on property relevant to legal proceedings such as the compilation of an inventory prior to an estate state of the property of a deceased individual.

An appraiser employed for the purposes of determining the value of property to be included in an insurance policy will draw up clear descriptions of the items or assets in question as well as justifying information for the value attached to the item. These documents with the perceived expertise of the appraiser become the basis for the coverage value.

For instance, if an individual inherits an antique diamond ring and has no idea of the value of the item, the individual might take the ring to a qualified jewelry appraiser who would evaluate the piece and draw up a report that would be submitted to the insurance company at the time the individu al asks to have the ring added to their homeowner's insurance coverage.

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