Penrose Appraisals

JANUARY 6, 2024

Policies vary from insurance company to insurance company, but generally, there are limitations to homeowners' or renters' insurance that are important to keep in mind if you happen to own items of exceptional value. Let's run through a few of the most common situations. Charitable donation.

Appraiser/appraisal 52

Appraiser/appraisal Charitable Donations Estate Tax Tax Liabilities 52

Artifactual History Appraisal

SEPTEMBER 17, 2019

All appraisal reports written in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP) have to include identification of the level of the market the appraised values are set in and the effective date of the valuation.

Retail Replacement Value 130

Retail Replacement Value Appraiser/appraisal Appraisal Reports Market Value 130

Fine Art Estates

JUNE 4, 2021

So, I thought that if I had a policy with a personal property limit of $500,000, and a $25,000 painting was stolen from my home, it would be completely covered, less the deductible of course. I now realize that HO insurance is designed to insure your home, not protect your art collection. Valuation is current market value.

Fine Art 130

Fine Art Insurance Coverage Appraiser/appraisal 130