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

What Does Boat Insurance Cover?

What Does Boat Insurance Cover?

Learn the basics of boat insurance, including what it is, what it covers, and why you may want to consider protecting your watercraft against accidents.

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.

Assess Life Insurance Needs

Assess Life Insurance Needs

How to help determine life insurance needs to provide for your family after you pass away.