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Or maybe you’ve decided to insure your jewelry collection, but without accurate appraisals, you’re left vulnerable to inadequate coverage and potential financial loss in case of unforeseen circumstances. Insurance valuation refers to the process of determining the monetary value of an asset, property, or item for insurance coverage.
As defined in The International Society of Appraisers, Core Course in Appraisal Studies 2021 pg. The role of the appraiser is to develop an opinion of value for a specific purpose. Appraisal methodology is determined with the purpose of the appraisal, different appraisal purposes will have different types of values.
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