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

When is the Right Time to Buy Life Insurance?

When is the Right Time to Buy Life Insurance?

It's never too early to start thinking about life insurance. Waiting until you're older or in poor health is never a good idea.

Identity Theft Insurance: A Guide

Identity Theft Insurance: A Guide

Identity Theft is one of the biggest risks of our time. Find out how ID Theft Insurance can help you stay in the clear.

Data Breach: Your Security To-Do List

Data Breach: Your Security To-Do List

This article provides a checklist of steps to take if you experience a data breach.