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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Funding Your Future Health Care Needs

Funding Your Future Health Care Needs

A little planning now can go a long way to help take care of yourself in the future.

A Guide to Insuring Valuables In Your Home

A Guide to Insuring Valuables In Your Home

Your homeowners policy may not cover certain types of valuables. Here's what you can do to stay covered.

Flood Insurance: What Homeowners Need to Know

Flood Insurance: What Homeowners Need to Know

Even if you’re not living in a “high-risk” area, here’s why you may want to consider flood insurance to protect your home or business.