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

Raising Healthy Children

Raising Healthy Children

Healthy habits are one of the greatest gifts to give your child.

Annuity Comparison

Annuity Comparison

This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.

To Buy or Not to Buy

To Buy or Not to Buy

The decision whether to buy or rent a home may have long-term implications.