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

What is Underwriting?

What is Underwriting?

Do you know what Underwriting is?

How Your Credit May Affect Your Life Insurance Premiums

How Your Credit May Affect Your Life Insurance Premiums

This article is perfect for helping you explore the surprising connection between your credit score and life insurance costs.

Snapshots

Snapshots

Your life is marked by images. Prepare for the unexpected, so you can keep those pictures going.