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

Variable Universal Life Insurance

Variable Universal Life Insurance

Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.

What is a Business Owner's Policy?

What is a Business Owner's Policy?

As a business owner, a BOP may be a convenient way to meet your unique protection needs.

Choosing a Business Structure

Choosing a Business Structure

Entrepreneurs all face the same question, “Which business structure should I adopt?”