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

Insurance Needs Assessment: For Empty Nesters and Retirees

Insurance Needs Assessment: For Empty Nesters and Retirees

Do your insurance needs stay the same when the nest empties?

How Your Credit May Affect Your Life Insurance Premiums

How Your Credit May Affect Your Life Insurance Premiums

This article is perfect for helping you explore the surprising connection between your credit score and life insurance costs.

The ABC’s of Auto Insurance

The ABC’s of Auto Insurance

What kind of auto insurance should you have? Do you know?