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

Money Draining Food Myths

These food myths will really put a drain on your wallet.

What to Look for in Personal Finance Apps

An increasing number have been developed to help individuals with their personal finances.

How to File a Wildfire Claim

Here’s what you need to know when filing a wildfire insurance claim.