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 |

Have A Question About This Topic?

Thank you! Oops!
 

Related Contents

Your DNA Test

Your DNA Test

If your family relies on your income, it’s critical to know what their needs would be in the event of your death.

Is Term Life Insurance for You?

Is Term Life Insurance for You?

Term insurance is the simplest form of life insurance. Here's how it works.

Long-Term-Care Needs

Long-Term-Care Needs

Determine your potential long-term care needs and how long your current assets might last.