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

Why An Annuity May Be Key to Your Retirement Plan

Why An Annuity May Be Key to Your Retirement Plan

If you’re looking for a way to supplement your income in retirement, an annuity may be for you.

A Bucket Plan to Go with Your Bucket List

A Bucket Plan to Go with Your Bucket List

A bucket plan can help you be better prepared for a comfortable retirement.

Did You Know This Fact About Claims Advances?

Did You Know This Fact About Claims Advances?

If a fire forces you out of your home, you can ask for a claim advance.