Definition Of Valuation Of Loss In Insurance

Definition of "Valuation of loss"

Rae Wakelin & Nicola Wakelin, Real Estate Agent Amerivest Realty- Wakelin Realty Team

Method of setting a dollar value on loss suffered by an insured. In some cases, a loss is straightforward, such as the cost of gallbladder surgery. But with burglary of a home or a traffic accident that damages a car, the amount of loss is open to interpretation. In many cases, the insured needs receipts, appraisal documents, or other evidence of value. In other cases, a claim adjuster values the loss and determines how much the insurer will pay.