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?

Related Content

Is Term Life Insurance for You?

Is Term Life Insurance for You?

Term insurance is the simplest form of life insurance. Here's how it works.

Protecting Your Home Against Flood Loss

Protecting Your Home Against Flood Loss

Protect yourself against the damage that your homeowners policy doesn’t cover.

Protecting Your Business from the Loss of a Key Person

Protecting Your Business from the Loss of a Key Person

Business owners may be able to protect themselves from the financial consequences of losing a key employee.