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?

Related Content

Dog Bites Neighbor. Now What?

Even dogs have bad days. So, what happens when your dog bites a neighbor or passing pedestrian?

9 Facts About Social Security

There are things about Social Security that might surprise you.

Preparing for the Expected

You can plan ahead to protect yourself and your family against the financial consequences of deteriorating health.