Insurance Insurance Policy Tax Liabilities 
International Society of Appraisers
MARCH 14, 2025
The definition may vary slightly from federal government definitions used to determine tax liabilities. For insurance replacement purposes, appraisers should consider where the client typically shops, which, in most cases, falls under the retail market. The insured ends up with a comparable, used property and not a new property.
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. You may find that additional insurance is necessary to adequately cover you in the case of loss.
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