When a claim occurs, homeowners need to report the incident to their insurance company. In order to receive the full replacement value for your possessions, you must have your items regularly appraised to determine the replacement value. Many people think the replacement value is the cost of replacement, but that is not always the case.
In today’s installment of Tuesday Tips, we would like to give you advice on how to have the valuable items in your house appraised so you are able to get the replacement value of these items in the event of a claim.
The best way to appraise the value of your items is to create a list/inventory that includes receipts, pictures, and other evidence of the items value.