Most Insurance companies will require a Professional Appraisal vs. simple a "value" from an auction house or dealer. The Wellington Gallery are experts in preparing Appraisals that fully meet the needs of all Insurance Companies. Should you ever need to make a claim, you want to make sure that the Insurance company will pay and that is why an Appraisal completed acording to the correct Standards is required and in your best interest. We are the lowest cost , fully accredited, appraisers in the Country for personal property items.
Comparable replacement cost is defined as the amount of money that would be required to replace an item with another of similar age, quality, origin, appearance, condition and utility, within a reasonable length of time (6 months or less) and in the appropriate and relevant market where the property is customarily sold to the public.
Many personal property Items, by their nature are not "exactly" replaceable. An accredited appraiser will determine a comparable replacement cost for your personal property for insurance purposes.
Most Insurance Companies typically do not require appraisals every year.