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.

Share |
 

Related Content

Combine Your Policies and Save

Combine Your Policies and Save

Some things just make perfect sense in pairs.

Did You Know This Fact About Smoke Detectors?

Did You Know This Fact About Smoke Detectors?

Do you know how often to change the batteries on your smoke detectors?

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.