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

Accidents

Accidents

Accidents happen to everyone. We're here to help.

What is the Value of Your Business?

What is the Value of Your Business?

Ascertaining the value of your business is important for a variety of reasons.

Insurance Needs Assessment: For Empty Nesters and Retirees

Insurance Needs Assessment: For Empty Nesters and Retirees

Do your insurance needs stay the same when the nest empties?