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 |
 

Related Content

The Best of Both Worlds

The Best of Both Worlds

Here are a few reasons we’ve chosen to be independent.

Understanding Long-Term Care

Understanding Long-Term Care

Understanding the types of long-term-care services—and what those services could cost—may be critical.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.