This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Q: In a damageclaim, what's the most common marketplace for determining the fair market value of diamond jewelry? In a damageclaim, it is important to ask your client if there is a specific definition of fair market value you should use. Chapter 11 in the Core Course Manual discusses insurance coverage and claims.
Legal and Insurance Requirements In many cases, insurers and courts require an accredited appraisal to validate claims. For example, in estate settlements, divorce proceedings, or damageclaims, an appraisal completed by a qualified appraiser is often required to prove the value of property.
In the event that a piece is damaged beyond repair, an appraisal will provide the information for your insurance company to process the claim. Having full documentation of your valuables prior to damage will make it much easier to file a loss or damageclaim and be reimbursed for the full value.
We also provide appraisals for insurance replacement, damageclaim settlement, estate division and Trust matters, divorce and court-ordered equitable distribution, tax-deductible charitable donations, determination of federal estate & gift tax liability, asset liquidation, and expert witness testimony.
So, if there is a damageclaim and repairs have been completed, an assessment is made whether there has been a loss of value due to the damage, in that case compensation can be made. Such coverage is much more comprehensive protection against loss. It usually covers natural disasters such as windstorm, earthquake, etc.
We also provide appraisals for insurance replacement, damageclaim settlement, estate division and Trust matters, divorce and court-ordered equitable distribution, tax-deductible charitable donations, determination of federal estate & gift tax liability, asset liquidation, and expert witness testimony.
We also provide appraisals for insurance replacement, damageclaim settlement, estate division and Trust matters, divorce and court-ordered equitable distribution, tax-deductible charitable donations, determination of federal estate & gift tax liability, asset liquidation, and expert witness testimony.
Depending on the damage, it may not be desirable to file a claim. But it is always best to notify your broker of the damage so they can notify the insurance company. It is better to err on the side of reporting damage; claims can always be withdrawn if it is decided to handle the expenses out of pocket.
From personal experience, I can attest as an appraiser that it is much easier to prepare an insurance appraisal of an item in good condition than a damageclaim appraisal of an item in poor condition.
We also provide appraisals for insurance replacement, damageclaim settlement, estate division and Trust matters, divorce and court-ordered equitable distribution, tax-deductible charitable donations, determination of federal estate & gift tax liability, asset liquidation, and expert witness testimony.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content