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

Forecast

Forecast

Life is as unpredictable as the weather. We’d love to help you prepare.

What is Exposure?

What is Exposure?

Do you know what Exposure is?

Protecting Those Who Matter Most

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.