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

Good Health is Good Business

Good Health is Good Business

Good employee health can be great for the company’s bottom line.

Fallen Tree Damage—Who Pays?

Fallen Tree Damage—Who Pays?

Your liability for damages that occur when a tree on your property falls on your neighbor’s property is not clear cut.

3 Things to Do Before You Start a Home Business

3 Things to Do Before You Start a Home Business

Thinking about starting a home business? Learn what to do before your front door says “Open.”