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.
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In an effort to reduce the chance of considerable damage from robbery or theft, you may have recently implemented (or may still be considering) a home security system. Here’s how adding a home security system to your property may affect your insurance.