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

Choosing a Business Structure

Choosing a Business Structure

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

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.

Safeguard Your Digital Estate

Safeguard Your Digital Estate

If you died, what would happen to your email archives, social profiles and online accounts?