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?

Related Content

Your DNA Test

A Detailed Needs Analysis (DNA) can be a simple way to care for loved ones, no matter what the future may hold.

Keeping Up with the Joneses

Keeping Up with the Joneses

Lifestyle inflation can be the enemy of wealth building. What could happen if you invested instead of buying more stuff?

3 Things to Do Before You Start a Home Business

3 Things to Do Before You Start a Home Business

Thinking about starting a home business? Learn what to do before your front door says “Open.”