Definition of "Appraisal clause"

Aniko Molnar-Szakolczai real estate agent
Aniko Molnar-Szakolczai, Real Estate Agent Callaway Henderson Sothebys International Realty

Clause in a property insurance policy that stipulates that either the insurer or the insured has the right to demand an appraisal in order to determine the monetary damage or loss to an insured property.

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