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The Art of Appraisals: Understanding their Vital Role in Insurance

Art Appraisal Resources

In this post we explore art appraisals' critical role in the context of insurance. Understanding Art Appraisals An art appraisal is a professional evaluation of the monetary value, authenticity, and condition of an artwork. Appraisers evaluate the condition of the artwork, any damage or restoration work can impact its value.

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Insurance: Protecting Your Collection

Art Peritus

Surprisingly, many collectors of “passion assets” don’t think to protect these valuables with insurance. Often the misconception is that only blue-chip collections worth millions of dollars require this kind of specialized protection. This is especially true when one considers how remarkably specialized these policies can be.

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ASA Newsroom - Gems & Jewelry - Untitled Article

ASA Newsroom - Gems & Jewelry

Insurance industry terminology such as risk, premium, loss, deductibles, coverage limits, and perils are some of the fundamental concepts appraisers must grasp. Different property insurance policies have unique features and limitations. The Claims Function People buy insurance policies for protection against financial loss.

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The Role of Jewelry Appraisers in Insurance Valuation

Buckhead Jewelry Appraisers

So you’ve just inherited your grandmother’s vintage diamond ring, only to find out it’s not covered by your insurance policy because its value wasn’t properly appraised. It’s based on the cost of repairing or replacing the jewelry in its pre-loss condition, taking into account factors like wear and tear and changes in market value.

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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. In conclusion, insurance appraisals are a vital component of responsible art collection management.

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need an insurance appraisal update?

Drishti LLC Appraisers

One of the most important reasons to update an appraisal for artwork is to provide documentation of current condition. Condition of an artwork is a significant factor in determining value. Secondly, an updated appraisal will make sure your collection is insured at an appropriate level.

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Protecting Your Collection and Your Wallet: What You Could Lose If You Suffer a Loss Without an Appraisal

McAllister Fossum Appraisal Services

Understand Your Homeowner’s Insurance Policy The biggest problem I see after a devastating loss is underinsurance, meaning that homeowners suffer a loss yet fail to recover tens of thousands of dollars just at the time when they have lost everything they hold dear. Keep a copy of the insurance policy handy too.