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.

Best Vacations: By Car, By Ship, By Foot, Once in a Lifetime

Best Vacations: By Car, By Ship, By Foot, Once in a Lifetime

Four vacation destinations you might never have thought of.

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.