ART & ANTIQUES INSURANCE VALUATIONS
Insurance valuations are for two main purposes: pre-loss or post-loss, the majority of the work being pre-loss.
AN INDEPENDENT ARTS VALUER
You might ask why you really need an insurance valuation? The answer is that you may be under-insured and because it is up to you to prove to your insurers, the value of any replacement after an item is damaged or lost. The best way to do this is to provide a list of your possessions and their worth compiled by an independent arts valuer before a loss occurs. All of our inventories are supplied with digital images.
Inventories should be updated at least every ten years as values can rise or fall markedly within this period. For example, over the last ten years antique furniture values have fallen radically whereas silver, gold, jewellery, books and contemporary art have risen substantially.
Police currently advise that the items most likely to be stolen are clocks, jewellery, silver, together with mass-produced items which are easy to fence.
Jewellery need not be valued separately and can be included within any inventory.
HIGH NET WORTH INSURANCE SCHEMES
You can get a lower premium on your art and antiques insurance policy by using one of the special schemes for High Net Worth clients. This is available through specialist underwriters including Chubb and Axa Art, for whom we are approved valuers. Discounts are available on our fees for such work.
Many underwriters currently require an individual listing and an image of items worth £15,000 or more. However since you will need to prove the value of any loss it may be circumspect to contract a more substantial valuation that covers items of a lower value.
INSURANCE CLAIMS—LOSS ADJUSTMENT
For many years this office has received instructions from firms of loss adjusters checking the validity of claims. We are happy to assist firms who do not have their own in-house valuers.
INSURANCE CLAIMS—LOSS ASSESSMENT
We are also instructed by private clients to produce detailed and correct records of loss for their insurers, where no current certified valuation has been carried out. Photographs and any receipts for items help us to accurately quantify your claim. It should be noted that it is customary practice in such instances for the insured and not the insurance company to pay the valuer's fee.
Additional valuation services: