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

Replacing Your Medicare Card

Replacing Your Medicare Card

Learn how to replace your lost, stolen, or damaged Medicare card in this helpful article.

Keeping Good Records is Good Business

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.

Stay Safe with a B.O.P. At Your Back

Stay Safe with a B.O.P. At Your Back

Learn about the advantages of Business Owner Policies with this highly educational and fun animated video.