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Do I Need a Separate Appraisal If My Homeowner’s Insurance Covers My Art?
Most homeowner’s policies place a sublimit on fine art – often as low as $2,500 per item – far below current market value. A USPAP-compliant appraisal documents replacement value at today’s prices, not what you paid years ago. Without it, a loss settlement can leave a significant gap. For most collections, artwork, antiques, and valuables,…