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

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.

The Other Sure Thing

The Other Sure Thing

A new LIMRA study shows that 40% of Americans believe the death of a primary wage earner would cause financial challenges.

Gap Insurance for Leased Cars

Gap Insurance for Leased Cars

If you’re thinking of leasing a new car, then you shouldn’t forget about gap insurance.