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Recently I wrote an article for Worthwhile Magazine™ titled “A Consumer’s Guide to InsuranceAppraisalReports: Do You Need One and How to Get One?” In my own appraisal firm, I answer many questions from potential clients who are unsure if they need an insuranceappraisalreport or what the process is to get one.
Hiring an accredited and knowledgeable appraiser is the most important step in any appraisal. Determining InsuranceCoverage Art appraisals play a crucial role in establishing the appropriate insurancecoverage for your valuable artworks by determining their accurate and up-to-date market value.
I’ve written this basic guide as an introduction to the different levels of value so that users of appraisal services will be able to better determine what sort of appraisalreports would best suit their needs. It can sometimes be present in insurancepolicies, although in my experience it is much less frequently encountered.
Further, appraisalreports must follow the latest version even if the appraiser has NOT taken the latest course. The type of value before and after the loss will be dictated by the client and is based on how the insurancepolicy is written or the particular situation at hand.
When getting an appraisal, be sure to: Research reputable appraisers in your area. Ask questions during the appraisal. Request written appraisalreports—always. Review and update appraisals regularly. Here are four reasons why you should get updated appraisals: 1. Organize your jewelry collection.
Jewelry appraisals protect your valuable pieces in the event of damage, loss, or theft. Without a proper evaluation of your jewelry’s worth, you can’t get insurancecoverage for it. Knowing you need estimated values and understanding the appraiser’sreport once it’s available are two different things.
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