If you have ever lost anything due to fire, flood or other insurable disaster you know how difficult it can be to recoup the lost value. Working with insurance companies is not easy and can be even more difficult when trying to justify the amount of value lost by an item being damaged or destroyed. An appraiser can determine, and properly document, the lost value (either in part or in full) of an item and therefore allow the person harmed to be made whole again. It is especially hard to recoup lost value when an item is lost, and therefore cannot be inspected and verified when determining value.
Appraisers can use hypothetical conditions in their report which will allow them to properly determine value of items which have been lost. If the insurance company chooses to object to the appraised value and it goes to litigation, a proper USPAP compliant appraisal using hypothetical conditions can and will stand up in court, and will therefore protect and benefit the holder of such an appraisal.