Estimate is the written estimation, made by an appraiser or estimator, upon inspection of a damaged vehicle, regarding the cost required to restore the vehicle to the condition it was in immediately prior to the loss. There are sometimes hidden damages that are not visible until the vehicle is disassembled. Additional repairs needed to complete the repair are documented in what is called a supplement. Insurance companies expect this to occur and have in place billing guidelines to handle this type of situation.
In depense usage, estimate refers to
1. An analysis of a foreign situation, development, or trend that identifies its major elements, interprets the significance, and appraises the future possibilities and the prospective results of the various actions that might be taken.
2. An appraisal of the capabilities, vulnerabilities, and potential courses of action of a foreign nation or combination of nations in consequence of a specific national plan, policy, decision, or contemplated course of action.
3. An analysis of an actual or contemplated clandestine operation in relation to the situation in which it is or would be conducted in order to identify and appraise such factors as available as well as needed assets and potential obstacles, accomplishments, and consequences.
Webster Dictionary Meaning
- To from an opinion of, as to amount,, number, etc., from imperfect data, comparison, or experience; to make an estimate of; to calculate roughly; to rate; as, to estimate the cost of a trip, the number of feet in a piece of land.
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