Obtaining insurance often requires appraisal services to ensure that you are receiving the right amount of coverage. One common instance is for insuring engagement rings, when the insurance provider wants to know the value of the ring by seeing a formal appraisal. If your insurance only covers you for $1,000, but your $5,000 ring gets stolen, then you will find yourself out of luck due to inadequate coverage.
- Insurance companies often have value thresholds. Along with strict guidelines on what they will cover, contents insurance will place limits on high value items or may not include them in a standard policy. Obtaining appraisal services ensures that you have an accurate value of your belongings and can obtain coverage that protects them.
- Rare and unique items can also be appraised. While it can be difficult to place a value on original items, appraisal services can assist in valuation by examining past and future market assessments. For collectors, this can be a huge help to minimize risk and maximize your insurance coverage.
- Appraisal services ensure your belongings are well documented. When disaster strikes, having a categorized list of items and knowing their value means that insurance claims are as streamlined as possible. It can also be an emotional time dealing with the loss of personal belongings, so having an appraisal report will not only offer protection from a lack of coverage, but also peace of mind that you will be able to replace things to the best of your ability.
We offer appraisal services with decades of experience, so we take pride in being able to provide an accurate value for whatever purpose you need this information for. Contact us today at Carolina Silver & Gold.