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

If a Tree Falls

If a Tree Falls

Do you know what to do if a tree falls on your house, damaging your roof?

What is Exposure?

What is Exposure?

Do you know what Exposure is?

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.