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

Life Insurance Explained

Life Insurance Explained

Looking to learn about life insurance? This comprehensive article is a great place to start.

Debt Stress

Debt Stress

There’s a link between debt and stress.

Inventorying Your Possessions

Inventorying Your Possessions

Creating an inventory of your possessions can save you time, money and aggravation in the event you someday suffer losses.