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Most Fine Art Insurance professionals will agree that the best way to ensure that an insured loss is settled quickly and fairly is by properly documenting your art collection. If you carry a blanket policy and have a covered loss, it is likely that your insurance agent will have no information about the work in question beforehand.
Fortunately, there are several property appraisal organizations that set standards and self-police their membership to be sure that each member is qualified to properly appraise their field of expertise. And if the artwork has, they may even be willing to write you an updated insurance evaluation for free.
When they appraise your items, they're using all their knowledge and experience to make sure you know exactly what your stuff is worth. The AppraisalProcess The appraisalprocess is how personal property appraisers figure out the value of your items. Time Factor: The appraisalprocess can take time.
Good appraisers are (or should be) independent business owners, not the employee of a gallery that sold you the art or an auction house that is culling for items to sell in the future. Such independence insures unprejudiced valuations. Most appraisers charge an hourly fee for onsite inspection, research and report writing time.
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