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

Keeping Good Records is Good Business

Keeping Good Records is Good Business

Maintaining good records for your business not only helps to meet your tax and legal obligations, but it can save you money.

Did You Know This Fact About Roof Safety?

Did You Know This Fact About Roof Safety?

A roof harness is essential if you're up on the roof making repairs.

Did You Know This Fact About Flushing the Toilet?

Did You Know This Fact About Flushing the Toilet?

Did you know you can still flush the toilet, even if your well pump is stopped.