The unthinkable has happened: a flood swept through your property or a fire broke out, leaving devastation in its wake. Your irreplaceable works of art and valuable furnishings are affected. I know what you’re thinking—what do you do now? As overwhelming as it is to cope with such a disaster, accurate appraisals can be your lifesaver, particularly when it comes to insurance claims. Let me walk you through how we, at Manzi Appraisers & Restoration, have been making this process a little less daunting for people like you for over two decades.
Insurance: Your Immediate Thought
First and foremost, if you’ve had the foresight to insure your valuable possessions—which you should—your immediate concern will be to make an insurance claim. But here’s the kicker: insurance companies won’t just take your word for the value of damaged or destroyed items. This is where a proper appraisal comes into play.
Establishing Pre-Loss Value
Determining the pre-loss value of the affected items is essential. We take into account not just the market value but also factors like provenance, condition before the loss, and historical importance. A comprehensive report on these parameters is often the cornerstone of a successful insurance claim.
Update, Update, Update!
Your belongings are not static in value. Art, for instance, can fluctuate significantly in worth over time, based on various factors. Therefore, if you have appraisals that are several years old, we strongly recommend getting them updated regularly to reflect current market conditions. This ensures that you are appropriately covered.
Post-Loss Assessment
After the unfortunate incident, a post-loss appraisal is equally critical. This will determine the current condition of your belongings, whether they can be restored or are a total loss, and their present value. It is a vital piece of the puzzle for your insurance company when calculating how much you’re entitled to.
Restoration Considerations
If an item is deemed restorable, an accurate appraisal can guide the restoration process. We can offer a restoration plan and anticipated costs, helping you decide whether restoring the item is a viable option, both financially and emotionally.
Legal Requirements
In some cases, an appraisal report may be a legal requirement, especially for high-value items. Failure to produce a legally admissible appraisal report could result in a denied claim or a lengthy legal battle. So, it’s in your best interest to work with seasoned professionals, like us, who understand the nuances of the legal landscape surrounding appraisals and insurance claims.
While coping with the aftermath of a catastrophe like water or fire damage is undoubtedly difficult, a detailed and accurate appraisal can make the insurance claims process a lot smoother. It can provide you the peace of mind knowing that you will receive what you’re rightfully owed, allowing you to focus on rebuilding your life and restoring your treasures.
For over 20 years, Manzi Appraisers & Restoration has been serving the New England community, offering accurate valuations, personal property appraisals, and consulting services. If you find yourself facing such a challenging situation, we’re here to help.
To contact us, call 617-995-0022 or visit us on Facebook: Manzi Appraisers & Restoration.
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