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

Deepfakes & Cyber Liability

Deepfakes & Cyber Liability

Cyber security is more than just email links. Find out if modern scams like deepfakes are covered by Cyber Liability coverage

Teen Drinking and Your Liability

Teen Drinking and Your Liability

Drinking may be a “rite of passage” for teens, but when it occurs in your home you may be held responsible for their actions.

Totaled: The Cost of Cars and Your Limits

Totaled: The Cost of Cars and Your Limits

More cars than ever are now totaled after an accident. Here's what that means for your coverage. And your loan.