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

Little-Known Homeowners Insurance Facts

Little-Known Homeowners Insurance Facts

Many homeowners are unaware of how much their policy may cover. This article can help you maximize your homeowners insurance.

Important Birthdays Over 50

Important Birthdays Over 50

Here's a look at several birthdays and “half-birthdays” that have implications regarding your retirement income.

Spotting Credit Trouble

Spotting Credit Trouble

The wise use of credit is a critical skill. These 10 questions will help you assess your skill level.