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

Keeping Good Records is Good Business

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.

Directors and Officers Liability Insurance

Directors and Officers Liability Insurance

Not only can D&O insurance provide financial protection, but it can help improve an organization’s decision-making.

Insuring Your Second Home

Insuring Your Second Home

There are unique risks of owning a second home and obtaining the proper coverage may protect you from financial risk.