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

Fixed or Variable Mortgage, Which Should You Pick?

When selecting a mortgage, one of the most critical choices is between a fixed or variable interest-rate mortgage.

Making Your Tax Bracket Work

Have you explored all your options when it comes to managing your taxable income?

What Is My Life Expectancy?

Estimate how many years you may need retirement assets or how long to provide income to a surviving spouse or children.