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Why do you need to have extra insurance coverage for fine art & jewelry?

International Society of Appraisers

” Specifically, many people may not realize that traditional homeowners insurance policies typically have coverage limits that may not be sufficient to adequately protect high-valued property such as fine art, jewelry, or luxury items. Their expertise ensures that the valuation is accurate.

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Fine Art Insurance 101

Fine Art Estates

A provider evaluates the risk, provides a quote, issues coverage, and, in the event of a covered loss, pays the coverage set forth in the policy. Of the two, the “All-Risk” policy usually provides broader coverage for a homeowner. In the event of any covered loss, a deductible will be applied.

Fine Art 130
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Insuring and Valuation Updates in more Dynamic Markets

ValuePros Appraisal Services

By Ray Nugent Fine Art Insurers require more frequent valuation updates for Fine Art items than other less dynamic markets. Insurers are keenly aware of this phenomenon and therefore, require regular valuations updates, typically, every 2-3 years. Coverage is relatively affordable.

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Insurance Appraisals: Safeguarding Your Art Assets

JSK Fine Art Appraisals

In this blog post, we explore the crucial role of insurance appraisals in safeguarding your art collection, providing insights into why this process is indispensable for every art enthusiast and collector. Accurate Valuation for Adequate Coverage: The art market is dynamic, with values fluctuating over time.

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Art Peritus Art Industry Spotlight: Katja Zigerlig of Berkley One

Art Peritus

These types of valuations are not accepted. B: When considering insurance, what is the difference between Blanket and Scheduled insurance coverage for collectibles? K: Scheduled coverage separately describes individual collectibles to be insured at a specific value. They don’t have the correct credentials. K: Yes indeed.

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What You Need to Know When Hiring a Personal Property Appraiser

Anubis Appraisal and Estate Services

GL-1, an appraiser is “one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective.” Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitable donations, dissolution of marriage, and bankruptcy.

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Common Myths About Art Appraisal Debunked

JSK Fine Art Appraisals

In this blog post, we aim to debunk common myths surrounding art appraisal, shedding light on the realities of this crucial aspect of the art world. Understanding an artwork’s value aids in insurance coverage, estate planning, and equitable distribution. Periodic re-appraisals ensure valuations stay current and accurate.