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

Lifetime of Earnings

Lifetime of Earnings

Estimate how much you have the potential to earn during your working years.

Accidents

Accidents

Accidents happen to everyone. We're here to help.

What is a Term?

What is a Term?

Do you know what a Term is?