What must appraisers state separately when appraising the loss?

When appraising a loss, appraisers are required to state the actual cash value and the loss for each item separately. This requirement ensures that there is clarity and transparency regarding how the value of each item has been determined, as well as how much has been lost in the event of a damage or a claim.

The actual cash value reflects the current market value of an item, taking into account depreciation, which is essential for insurance purposes. By detailing the loss for each item, appraisers provide a comprehensive view of the damages, enabling both the insurance company and the policyholder to understand the specifics of the claim.

This level of detail is critical in the appraisal process because it helps in addressing disputes, ensuring fair settlement amounts, and assisting insurance adjusters in their evaluations. Providing this breakdown not only supports accurate compensation determinations but also aids in maintaining records for future reference and scrutiny.

In contrast, while the other options contain relevant terms and concepts related to loss assessments, they do not fulfill the specific requirement of separately stating both the actual cash value and the loss for each item, which is crucial for the appraisal process.