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

How Liability Coverage Protects Your Business

How Liability Coverage Protects Your Business

Protect your business by understanding the importance of liability insurance and how coverage works.

The Other Sure Thing

The Other Sure Thing

A new LIMRA study shows that 40% of Americans believe the death of a primary wage earner would cause financial challenges.

Trends in Charitable Giving

Trends in Charitable Giving

Some people may want a more advanced gifting strategy that can maximize their gift and generate potential tax benefits.