Insurance Assessment
/ɪnˈʃʊərəns əˈsɛsmənt/
Definitions
- (n.) The process of evaluating an insurance claim to determine the amount payable under a policy.
The insurance assessment concluded that the damages were covered under the homeowner's policy.
- (n.) An expert appraisal or evaluation of risk or damage by an insurer or appointed assessor.
The company requested an insurance assessment before settling the claim.
Forms
- insurance assessment
- insurance assessments
Related terms
See also
Commentary
The term usually refers to either the procedural evaluation in claims handling or the expert valuation of insured losses; clarity in drafting distinguishes between these uses.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.