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In this blog entry, we’ll discuss whether a person should get their antiques appraised for insurance purposes. It is also important that you have your appraisal updated regularly to make sure that your valuations accurately reflect any changes in the market or condition of the item.
Valuation is current market value. Con: If values go down, there is a possibility the insured will collect less than they paid for the item(s) because the valuation is based on current market values. Depending on the damage, it may not be desirable to file a claim. Browse fine artworks available to purchase on FAE.
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