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

No Holes Yard: Home Liability Coverage You Need

Your backyard is great until someone gets hurt. Here's what homeowners liability covers and how to protect yourself.

Gun Ownership and Your Homeowners Policy

Gun owners need to make sure that their homeowners policy covers the full value of their firearm(s) as personal liability.

Data Breach: Your Security To-Do List

This article provides a checklist of steps to take if you experience a data breach.