NAICS Code 524291-02 - Insurance Appraisers

Marketing Level - NAICS 8-Digit

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NAICS CODE 524291-02
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NAICS Code 524291-02 Description (8-Digit)

Insurance appraisers are professionals who assess the value of damaged or lost property for insurance purposes. They work for insurance companies, independent adjusting firms, or as self-employed consultants. Their main responsibility is to determine the amount of compensation that should be paid to policyholders for their losses. Insurance appraisers inspect damaged property, review policy information, and gather information from witnesses and experts to determine the value of the loss. They also negotiate with policyholders and other parties involved in the claim settlement process.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 524291 page

Tools

Tools commonly used in the Insurance Appraisers industry for day-to-day tasks and operations.

  • Digital cameras
  • Measuring tapes
  • Laser measuring devices
  • Moisture meters
  • Infrared thermometers
  • Estimating software
  • Spreadsheet software
  • Database software
  • Communication devices (e.g. phone, email)
  • Personal protective equipment (e.g. gloves, safety glasses)

Industry Examples of Insurance Appraisers

Common products and services typical of NAICS Code 524291-02, illustrating the main business activities and contributions to the market.

  • Automobile insurance claims
  • Homeowners insurance claims
  • Commercial property insurance claims
  • Workers' compensation claims
  • Marine insurance claims
  • Aviation insurance claims
  • Crop insurance claims
  • Livestock insurance claims
  • Fine art insurance claims
  • Jewelry insurance claims

History

A concise historical narrative of NAICS Code 524291-02 covering global milestones and recent developments within the United States.

  • The Insurance Appraisers industry has a long history dating back to the early 20th century. The industry was established to provide insurance companies with an independent and objective assessment of the value of insured property. In the early days, appraisers were primarily responsible for assessing the value of buildings and other structures. Over time, the industry expanded to include the appraisal of other types of property, such as vehicles and personal belongings. In recent years, the industry has seen significant growth due to the increasing demand for insurance appraisals in the wake of natural disasters and other catastrophic events. In the United States, the industry has also been impacted by changes in insurance regulations and the increasing use of technology in the appraisal process.