Insurance Appraisals

Replacement-value appraisals of fine art, jewelry, watches and sterling silver for Minneapolis and St. Paul collectors, homeowners and insurance agents. Reports include photographs and full descriptions so items can be scheduled on a policy and documented against a future loss.

Insured for What Replacement Actually Costs

An insurance appraisal is written on a replacement value basis: the retail cost to replace an item with another of comparable kind and quality, in the market where a replacement would realistically be found. For a period brooch, a Tiffany flatware service or a signed regional painting, that market is specific — and identifying it correctly is most of the work.

We prepare these reports by a qualified appraiser as defined under IRS regulations, in accordance with the substance and principles of USPAP, for collectors and homeowners across Minneapolis, St. Paul, Edina and the surrounding suburbs.

Scheduling Items on Your Policy

Standard homeowners coverage treats valuables as a category, not as individual objects, and usually caps jewelry, silver and fine art at a blanket limit far below what a real collection is worth. Scheduling — listing specific items with stated values — moves those objects onto their own footing, generally with broader coverage and without the argument about worth at the worst possible moment.

Your agent needs descriptions and values they can attach to the policy. Our reports are formatted to be handed over exactly as delivered.

Inherited Collections Are Often Underinsured

The property most likely to be underinsured in a Twin Cities home is the property that arrived by inheritance. Values on file — if they exist at all — often date from a valuation done decades ago, and categories such as signed jewelry, wristwatches and gold have moved considerably since. Meanwhile, entire estate contents frequently sit under a blanket limit that was never intended to carry them.

Silver and jewelry are where we see the widest gaps, which is also where our research depth is greatest — see our Silver Mark Database and Jewelry Mark Database, the same in-house references our cataloguers work from.

What the Report Includes

• Photographs of each scheduled item, suitable for an insurer's file
• Full descriptions — maker, marks, materials, dimensions and condition
• Replacement value conclusions with the retail market identified
• An item-by-item schedule your agent can attach directly to the policy
• The appraiser's qualifications and a signed declaration

Because each item is photographed and fully catalogued, the report doubles as a permanent inventory record — which is precisely what an adjuster asks for after a fire, water loss or theft. Where a loss has already happened, we can prepare a retrospective valuation from photographs, receipts and prior schedules to help substantiate the claim.

Not a Tax Document

An insurance appraisal serves one purpose: coverage. It is written on a replacement-value basis and should not be used for an estate return, a gift, or a charitable contribution, all of which require fair market value. If that is what you need, see our estate and tax appraisal services, which explain the two value bases and when each applies.

Fees are billed hourly, starting at $150, with an estimated total provided before work begins — and never contingent on the values concluded. Most reports are delivered within two weeks.

Frequently Asked

What value does an insurance appraisal use?

Replacement value — the retail cost to replace the item with one of comparable kind and quality in the appropriate market. It is typically higher than fair market value, which is the basis used for estate and donation reporting.

Why would an inherited collection be underinsured?

Most homeowners policies cap payouts on categories such as jewelry, silver and fine art at a low blanket limit. An inherited or long-held collection may also have appreciated substantially since it was last valued, so the figure on file no longer reflects what replacing it would cost.

Can an insurance appraisal be used for a tax filing?

No. An insurance appraisal is not a tax document. Estate and charitable donation filings require fair market value, and submitting a replacement-value report can significantly overstate the property.

Do you help after a loss has already occurred?

Yes. Where items were destroyed, damaged or stolen, we can prepare a retrospective valuation from photographs, receipts, prior schedules and other surviving documentation to help substantiate a claim.

Schedule Your Collection Properly

Send us an outline of what you own and who insures it. We will confirm scope, timing and fees in writing, then arrange an inspection at your home anywhere in the Minneapolis–St. Paul metro or at our Edina gallery. Contact our appraisal team or see all appraisal services.