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

Gun Ownership and Your Homeowners Policy

Gun Ownership and Your Homeowners Policy

Gun owners need to make sure that their homeowners policy covers the full value of their firearm(s) as personal liability.

Stay Safe with a B.O.P. At Your Back

Stay Safe with a B.O.P. At Your Back

Learn about the advantages of Business Owner Policies with this highly educational and fun animated video.

Personal Finance Tips for Military Families

Personal Finance Tips for Military Families

Military families face unique challenges, making personal finance even more critical.