Estimate form

Definition

The Estimate or Appraisal is an estimate for repair of damage to a vehicle or property, and an evaluation of the cost to restore a vehicle or property to its former condition prior to the loss.

What is the Estimate or Appraisal

The Estimate or Appraisal is a system-generated form used to record the details of the loss or damage. It is used for all vehicle or property claims, including those covered under additional product policies or endorsements.

Uses of the Estimate or Appraisal

The Estimate or Appraisal serves a dual purpose, as follows:

• The Estimate or Appraisal is used to produce an initial damage repair estimate
• When the repairs are completed, the repair facility submits the Estimate or Appraisal as an invoice to request payment.