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

Understanding Extended Care

Understanding Extended Care

Understanding the types of extended care services—and what those services could cost—may be critical.

If a Pipe Breaks

If a Pipe Breaks

Learn what to do when a pipe bursts with this helpful video flooded with smart tips.

COBRA Coverage

COBRA Coverage

Curious about alternate insurance options? This article will help you learn the basics of COBRA coverage.