Insurance Appraisals

Valuable items such as art, antiques, furniture, and other items should be properly insured.  In addition to obtaining or maintaining the appropriate policy from your insurance carrier, it is in your best interest to have a current formal, written appraisal by a qualified personal property appraiser.  

This report will contain a written inventory with descriptions and photographs of your items and associated replacement values.  Otherwise, there is a risk that theft, loss, or damage to your item may result in your recovering relatively little compared to your item's associated replacement value. 

Here's what to expect:

• A qualified appraiser will be on-site in your home or business to appraise the personal property
• A formal, written appraisal in the form of a report which includes a written inventory of the personal property with the approximate retail replacement values listed
• The report will comply to then current USPAP standards and requirements

How often should I have my personal property appraised for insurance purposes?

This depends upon the nature of the items to be insured.  However, valuable items may significantly fluctuate in value.  So, if it has been three or more years since your last appraisal, you may wish to consider having your items appraised again.  This is true for the fine art, antiques, and furniture markets.  

Whether it's your first time insuring your items, it's been awhile since your last appraisal, or your insurance carrier asks you to provide a current appraisal, contact Kurt Shaw & Co. for your appraisal needs.

Remember, proper insurance coverage requires proper appraisal.