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 Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.

Choosing Between Term and Whole Life Insurance

Choosing Between Term and Whole Life Insurance

Confused about Term or Whole Life Insurance? Discover how they work and, most importantly, how they can work for you.

Directors and Officers Liability Insurance

Directors and Officers Liability Insurance

Not only can D&O insurance provide financial protection, but it can help improve an organization’s decision-making.