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.

Share |

Have A Question About This Topic?

Thank you! Oops!
 

Related Contents

When the Unexpected Becomes Reality

When the Unexpected Becomes Reality

Disability happens to more people, more often than you may think, and it lasts longer, too.

Insurance Needs Assessment: When You're Newly Married

Insurance Needs Assessment: When You're Newly Married

Marriage changes everything, including your insurance needs.

Extended Care: A Patchwork of Possibilities

Extended Care: A Patchwork of Possibilities

What is your plan for health care during retirement?