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

A Look at Whole Life Insurance

A Look at Whole Life Insurance

Whole life insurance remains in force as long as you remain current with premiums. Here's how it works.

The Value of Insuring Against Life’s Risks

The Value of Insuring Against Life’s Risks

Building wealth requires protection from the forces of wealth destruction.

Side-by-Side: Insured vs. Uninsured

Side-by-Side: Insured vs. Uninsured

Here's what happens if your small business has an accident and you're not insured.