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

9 Facts About Social Security

9 Facts About Social Security

There are things about Social Security that might surprise you.

The Other Sure Thing

The Other Sure Thing

Though we don't like to think about it, all of us will make an exit sometime. Are you prepared?

What is the Value of Your Business?

What is the Value of Your Business?

Ascertaining the value of your business is important for a variety of reasons.