What is the Definition of Appraisal?

What is the Definition of Appraisal?

A survey to determine a property’s insurable value, or the amount of a loss.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Appraisal?

What is the Definition of Appraisal?

Check out other definition of insurance terms below:

What is the Meaning of LONG-TERM DISABILITY INCOME INSURANCE In Insurance Terms?

A type of disability income insurance that provides disability income benefits after short-term disability income benefits terminate and continues until the earlier of the date when the insured person returns to work, dies, or becomes eligible for pension benefits. Contrast with Short-term disability income insurance.

What is the Meaning of LOSS COSTS In Insurance Terms?

The portion of an insurance rate used to cover claims and the costs of adjusting claims. Insurance companies typically determine their rates by estimating their future loss costs and adding a provision for expenses, profit and contingencies.

What is the Meaning of LOSS OF USE In Insurance Terms?

A provision in homeowners and renters insurance policies that reimburses policyholders for any extra living expenses due to having to live elsewhere while their home is being restored following a disaster.

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