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

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.

Keeping Good Records is Good Business

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.

A Guide to Insuring Valuables In Your Home

A Guide to Insuring Valuables In Your Home

Your homeowners policy may not cover certain types of valuables. Here's what you can do to stay covered.