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

Data Thieves from Outer Space

Data Thieves from Outer Space

Learn about the dangers of internet fraud with this highly educational and fun “pulp” comic.

Stop Wasting Money

Stop Wasting Money

One way to find money is to examine your current spending habits and eliminate money wasters.

When to Self-Insure

When to Self-Insure

Choosing to bear the financial burden of an adverse event is called self-insuring. Do you know what that entails?