Insurance Appraisals for Art in Florida

Scheduling fine art on a policy

Many collectors "schedule" valuable works, listing each piece with an agreed value, on a homeowners policy or a separate fine art policy. Insurers usually ask for a recent written appraisal to support each scheduled value. Ask your agent how your policy treats art and what documentation they need.

Replacement value, not selling value

Insurance appraisals generally state retail replacement value: what it would cost to buy a comparable work in a reasonable time. That is usually different from what the work would bring if you sold it. Using the wrong value can leave you underinsured.

Before hurricane season

• Update appraisals that are several years old, or if you have bought, sold or restored works since.
• Keep photographs of each work, front and back, with the appraisal, stored somewhere outside the house.
• Note where each work hangs, and plan where it goes if you evacuate or close the house for the summer.
• Seasonal residents should schedule the appraisal while they are in Florida, before June.

See the full insurance art appraisal service for how Austin prepares these reports.

Austin Helmuth serves Sarasota, Palm Beach, Naples, Tampa, Miami, Orlando and all of Florida. Request a quote by sending a few photos.

An appraisal is not an authentication service. This guide is general information, not tax or legal advice.