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The Art of Appraisals: Understanding their Vital Role in Insurance

Art Appraisal Resources

Whether you're a collector, an art enthusiast, or an artist, knowing the worth of your artworks is crucial. In this post we explore art appraisals' critical role in the context of insurance. Once you have the appraisal report in hand, you can present it to your insurance provider.

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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

Part Three: An Interview with a Fine Art Insurance Provider Most insurance is underwritten by an insurance provider. 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.

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How To Determine If You Need An Art Appraisal

Art Appraisal Resources

Many insurance companies require a professional art appraisal to determine the appropriate coverage and premiums. You should check with your insurance provider to see what is and is not covered by your homeowners or rental insurance policy. It is estimated that 50% of the art in the market is fake.

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ASA Newsroom - Gems & Jewelry - Untitled Article

ASA Newsroom - Gems & Jewelry

Tweet By Thomas Dawson, ASA Spotlighting five key areas appraisers need to know to be covered in ASA ’ s upcoming PP163 Property Insurance Fundamentals webinar. In the property insurance industry, appraisers play a vital role, particularly when it comes to claims.

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Insuring and Valuation Updates in more Dynamic Markets

ValuePros Appraisal Services

The specific event can send ripples through the entire genre and certainly impact the value of other works by that specific artist, in this case positively. Conversely, a low auction sale can impact a genre and other works by the artist. Coverage is relatively affordable.

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Art Peritus Art Industry Spotlight: Katja Zigerlig of Berkley One

Art Peritus

KZ: I’m a fan of Hilma af Klint, a Swedish artist who had a popular retrospective at the Guggenheim Museum in 2019. Appraisals are important not only to make certain you are appropriately insured, but it can also help you make smart decisions about charitable donations, gifts to family members or making the decision to sell the work.