What to do if you have personal tangibles, antiques or paintings damaged in a hurricane, flood or fire?
Personal Property Loss/Damage cases have been executed by Anubis Appraisal and Estate Services, Inc. since the early 1990’s. Anubis can be hired for a loss/damage appraisal by the owner of the property, the insurance broker, or by the insurance carrier. Below you will find the steps to take to ensure your valuables are well taken care of.
- Immediately record in writing and by photograph the date, time and type of incident that caused the damage.
- Contact your insurance company with all the incident details.
- Your insurance provider may tell you that they will send out an appraiser to evaluate the damage, or they may also ask you to contact an accredited and certified appraiser.
Check with friends and family for referrals or you can check the two national appraisal society’s websites for appraisers near you. Appraisers’ charge an hourly rate for on-site and office preparation time. Rates depend on your geographical location.
- www.appraisersassociation.org
- www.isa-appraisers.org
- Once you have found your appraiser, make an appointment to schedule an on-site visit. Gather all paperwork regarding the damage or loss item such as invoices, old appraisals, photographs, and provide copies of these documents to the appraiser
While on-site the appraiser will:
- Photograph and fully describe the damage that occurred to the item, take exact measurements and include additional information provided by the client regarding the item i.e. provenance, exhibition history, etc.
While at the office, the appraiser will:
- Conduct market research, record all information into an appraisal document, establish replacement cost pre-damage and establish a value post loss/damage incident or come to a determination on the diminution in value to the item if applicable.
The final appraisal report is your best asset when coming to a fair dollar value for a loss or a disputed loss.
- The appraiser will submit an accurate detailed appraisal to be submitted to the insurance company, which will be used as a basis for settlement or restoration.
- The appraiser may also suggest a restorer or conservator if conservation if possible. Restorer’s rates are based on the amount of work needed to repair an item and vary by instance.
For future tips on how to keep your personal property free of harm and protected check out our blog post on Personal/Property Insurance Coverage.
by Tara Ana Finley, ISA, AM, President, Anubis Appraisal & Estate Services, Inc. 305.446.1820 anubisappraisal.com
