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

How to File a Wildfire Claim

How to File a Wildfire Claim

Here’s what you need to know when filing a wildfire insurance claim.

Keep Your Umbrella Handy

Keep Your Umbrella Handy

Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected.

General Liability for Online & Etsy Sellers

General Liability for Online & Etsy Sellers

Learn why General Liability insurance helps protect your online business from common liability risks. Share this info.