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

Short Term vs. Long Term Disability Insurance

Short Term vs. Long Term Disability Insurance

From covering broken bones to chronic illness, here's what you need to know when it comes to your disability insurance options.

The Three Keys to a Great Password

The Three Keys to a Great Password

Have fun and learn how to craft the perfect password with the help of this highly engaging infographic.

Did You Know This Fact About Roof Safety?

Did You Know This Fact About Roof Safety?

A roof harness is essential if you're up on the roof making repairs.