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

5 Costly Mistakes In Your Life Insurance Policy

5 Costly Mistakes In Your Life Insurance Policy

There are many considerations when purchasing family life insurance. Make sure your family understands these life insurance mistakes and how to avoid them.

How to Read Your Credit Report

How to Read Your Credit Report

Solve a mystery while learning how important your credit report is with this story-driven interactive.

Insuring Your Business With a Buy/Sell Agreement

Insuring Your Business With a Buy/Sell Agreement

It may help your business be better prepared in the event of the death of a principal or key employee.