Insurance

What is an Appraisal?

Appraisal

[uh-prey-zuh l]

noun

1.

An Appraisal happens just before an insurance Policy is put into effect and is undertaken by the insurance company. The objective of an Appraisal is to determine property’s current replacement cost in the event of a loss. This step is helps ensure that a policyholder is not over- or under-insured.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Keep Your Life Insurance When You Retire

Keep Your Life Insurance When You Retire

This article is perfect for those looking to maintain their life insurance or explore alternate options during retirement.

A Home Insurance Claim: To File Or Not To File

A Home Insurance Claim: To File Or Not To File

Learn when it may not make sense to file a claim on your home insurance.

Did You Know This Fact About Trampolines?

Did You Know This Fact About Trampolines?

Trampolines cause thousands of injuries per year.