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

Understanding the Basics of Medigap Policies

Understanding the Basics of Medigap Policies

Important as it is, Medicare does not cover the full range of health-care expenses you may experience in your golden years.

What is a Producer?

What is a Producer?

Do you know what a Producer is?

6 Reasons Millennials Should Buy Life Insurance

6 Reasons Millennials Should Buy Life Insurance

Life insurance is more than a savings account for your loved ones. Learn the ins and outs of this valuable financial asset and see why it is important no matter your age.