APPRAISAL SERVICES
Stated Value Insurance Appraisal: Usually found on limited use policies.
The insurance company will pay the stated amount or actual cash value,
as long as the cost of repairs are not over 80% of the stated value or acv.
Example: Your car has a stated value of 15,000. The cost to repair is less
than 12,000 with no open items needing repair. They will then possibly fix
the vehicle. If it is that close they usually will total the vehicle and pay
the stated value to the customer less your deductible.
Fair Market Value Appraisal: Divorce, Estate Sales and Bankruptcy.
An independent appraisal to determine fair market value so difficult
situation can be resolved fairly.