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

Should You Sell Your Life Insurance Policy?

Should You Sell Your Life Insurance Policy?

Here’s what you need to know if you’re considering selling your life insurance policy.

Insurance Needs Assessment: When You're Newly Married

Insurance Needs Assessment: When You're Newly Married

Marriage changes everything, including your insurance needs.

Preparing for the Expected

Preparing for the Expected

You can plan ahead to protect yourself and your family against the financial consequences of deteriorating health.