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

Long-Term-Care Needs

Long-Term-Care Needs

Determine your potential long-term care needs and how long your current assets might last.

Getting a Head Start on College Savings

Getting a Head Start on College Savings

A few strategies that may help you prepare for the cost of higher education.

Protecting Your Home Against Flood Loss

Protecting Your Home Against Flood Loss

Protect yourself against the damage that your homeowners policy doesn’t cover.