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 Contents

The Other Sure Thing

The Other Sure Thing

Though we don’t like to think about it, all of us will make an exit sometime. Are you prepared?

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?

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.