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

Raising Healthy Children

Raising Healthy Children

Healthy habits are one of the greatest gifts to give your child.

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.

Universal Life Insurance

Universal Life Insurance

Universal life insurance is permanent insurance with a flexible premium. Here's how it works.