Our team of experienced Insurance Appraisers endeavors to provide the highest quality appraisals in our industry. The main purpose of an insurance appraisal is to provide an estimate for replacement cost. We refer to this as Total Insurance Value (TIV) and it comprises the following:
Insurance appraisals are highly specialized reports that start with a site inspection followed by a property analysis to determine the calculation of supportable estimates for replacement costs. Qualified appraisers are able to produce reliable estimates based on expertise acquired through extensive training and experience. Moreover, experienced appraisers make their estimates based on an analysis of the current environment, and do not rely on third party software based outside the region or use generic information to determine their estimates.
Our appraisals include photographs, construction details, description of assets included, description of assets excluded, the appraisal process described, and our replacement cost conclusion. Normac provides multi-year appraisal programs for our clients. The cost of the appraisal includes the initial appraised value, plus free annual updates.