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

Short Term vs. Long Term Disability Insurance

Short Term vs. Long Term Disability Insurance

From covering broken bones to chronic illness, here's what you need to know when it comes to your disability insurance options.

What Determines Car Insurance Rates?

What Determines Car Insurance Rates?

Learn about the factors used to create car insurance quotes in this educational article.

Social Media: #NewestBusinessLiabilityRisk

Social Media: #NewestBusinessLiabilityRisk

Social media may be a modern imperative for businesses looking to grow and build their brand, but it also introduces risk.