Fine Art: Appraisal and insurance concerns

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Wed Feb 26, 2020 9:46 pm

hi all, i recently inherited a piece of fine art. i am not entirely sure of the worth, but i don't even feel comfortable handling it. it is unframed but i believe my first step should be to figure out how to insure it.

as my friends/family have never had to do this, from my limited research it sounds like i have a few options:

1. renters insurance - but i'm worried that it's not specific to this piece unless i'm able to get an appraisal and add a rider. i've spoken with Amica who seem to be pretty highly rated.

2. specific fine art insurance (Hiscox gets rave reviews in the UK...alas i'm in the US) via Chubb or AIG Private Client

what's the best approach here keeping in mind it might be difficult to appraise? what specific steps should i follow?

thanks!

User avatar
Duckie
Posts: 7369
Joined: Thu Mar 08, 2007 2:55 pm

Re: Fine Art: Appraisal and insurance concerns

Post by Duckie » Wed Feb 26, 2020 10:08 pm

totallynotsure, welcome to the forum.
totallynotsure wrote:i recently inherited a piece of fine art. i am not entirely sure of the worth, but i don't even feel comfortable handling it. it is unframed but i believe my first step should be to figure out how to insure it.
<snip>
what's the best approach here keeping in mind it might be difficult to appraise? what specific steps should i follow?
Since you inherited it could you ask the executor if the item was appraised for estate-tax purposes? That would be a start.

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Wed Feb 26, 2020 10:13 pm

Duckie wrote:
Wed Feb 26, 2020 10:08 pm
totallynotsure, welcome to the forum.
totallynotsure wrote:i recently inherited a piece of fine art. i am not entirely sure of the worth, but i don't even feel comfortable handling it. it is unframed but i believe my first step should be to figure out how to insure it.
<snip>
what's the best approach here keeping in mind it might be difficult to appraise? what specific steps should i follow?
Since you inherited it could you ask the executor if the item was appraised for estate-tax purposes? That would be a start.
sorry, i used the wrong word. i didn't actually inherit it. i have come into possession of it. i have an estimated value based upon what others have told me.

jbmitt
Posts: 494
Joined: Mon Jul 14, 2008 1:00 am

Re: Fine Art: Appraisal and insurance concerns

Post by jbmitt » Wed Feb 26, 2020 10:14 pm

Most insurers can do art on an agreed value, but they will want an appraisal. If you have an agent, run it by them, most should know their markets and may have an idea of the appraisal requirements.

It's no different than how people have jewelry, antiques, firearms, etc insured. The value just needs to be understood and agreed upon by both parties.

User avatar
ResearchMed
Posts: 10237
Joined: Fri Dec 26, 2008 11:25 pm

Re: Fine Art: Appraisal and insurance concerns

Post by ResearchMed » Wed Feb 26, 2020 10:18 pm

totallynotsure wrote:
Wed Feb 26, 2020 9:46 pm
hi all, i recently inherited a piece of fine art. i am not entirely sure of the worth, but i don't even feel comfortable handling it. it is unframed but i believe my first step should be to figure out how to insure it.

as my friends/family have never had to do this, from my limited research it sounds like i have a few options:

1. renters insurance - but i'm worried that it's not specific to this piece unless i'm able to get an appraisal and add a rider. i've spoken with Amica who seem to be pretty highly rated.

2. specific fine art insurance (Hiscox gets rave reviews in the UK...alas i'm in the US) via Chubb or AIG Private Client

what's the best approach here keeping in mind it might be difficult to appraise? what specific steps should i follow?

thanks!
Do you have a regular renters insurance policy? With that or with homeowners policy, you'll very likely want to get a valuable item(s) rider, to get proper coverage (for causes and for total amount).
As for the value, you didn't mention what type of item, but you mentioned a frame, so it is probably artwork (or a photo?).
If the former, you might check with a major art museum and ask them if they could recommend an appraisal.
Or an auction house in a large city.
If it is *really* valuable, then please be careful about who knows you have it, and also where you live. This is something that probably won't fit in a safe deposit box!

One reason to have it properly insure is so you can display it (either in a living room, or perhaps more privately in your bedroom if you don't want others to see it) without worrying about something happening to it.

Get "all causes" coverage, so if it gets splashed with water (or wine!), you'll be covered.
That might not bring back any sentimental value, but it would give you something to "take its place".

Call an independent insurance broker, someone who deals with several insurers, if you don't already have insurance, or if you aren't pleased with your current policy or agent.

RM
This signature is a placebo. You are in the control group.

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Wed Feb 26, 2020 10:28 pm

ResearchMed wrote:
Wed Feb 26, 2020 10:18 pm
totallynotsure wrote:
Wed Feb 26, 2020 9:46 pm
hi all, i recently inherited a piece of fine art. i am not entirely sure of the worth, but i don't even feel comfortable handling it. it is unframed but i believe my first step should be to figure out how to insure it.

as my friends/family have never had to do this, from my limited research it sounds like i have a few options:

1. renters insurance - but i'm worried that it's not specific to this piece unless i'm able to get an appraisal and add a rider. i've spoken with Amica who seem to be pretty highly rated.

2. specific fine art insurance (Hiscox gets rave reviews in the UK...alas i'm in the US) via Chubb or AIG Private Client

what's the best approach here keeping in mind it might be difficult to appraise? what specific steps should i follow?

thanks!
Do you have a regular renters insurance policy? With that or with homeowners policy, you'll very likely want to get a valuable item(s) rider, to get proper coverage (for causes and for total amount).
As for the value, you didn't mention what type of item, but you mentioned a frame, so it is probably artwork (or a photo?).
If the former, you might check with a major art museum and ask them if they could recommend an appraisal.
Or an auction house in a large city.
If it is *really* valuable, then please be careful about who knows you have it, and also where you live. This is something that probably won't fit in a safe deposit box!

One reason to have it properly insure is so you can display it (either in a living room, or perhaps more privately in your bedroom if you don't want others to see it) without worrying about something happening to it.

Get "all causes" coverage, so if it gets splashed with water (or wine!), you'll be covered.
That might not bring back any sentimental value, but it would give you something to "take its place".

Call an independent insurance broker, someone who deals with several insurers, if you don't already have insurance, or if you aren't pleased with your current policy or agent.

RM
thanks, this is great info. i rent currently and do not have renter's insurance.

i did call one insurance company (Amica) and one broker who deals with Chubb.

in regards to the renter's insurance. if i insure the contents of my apartment for the contents + the art, will it not be fully covered? i get the impression it might be covered from fire, flood and theft but not other things such as dropping, getting bumped into, etc. which is what i'm truly concerned about.

additionally, i believe some policies have a limit on just how much they'll pay out on a single item when using just renter's or home owners insurance.

the other component is that for the valuable item insurance it seems some (most?) need a professional appraisal which would entail me transporting the item (or at least handling it to get good photos) while it's uninsured.

interesting, Chubb's site states this:

We only require appraisals for individual jewelry pieces valued at $100,000 or more, fine art items valued at $250,000 or more, and collectibles valued at $50,000 or more. Otherwise, we just need a detailed description and estimated value.

however, i think to get an individual plan like this i might need to also get another policy such as renters + fine art.

User avatar
Rob5TCP
Posts: 3462
Joined: Tue Jun 05, 2007 7:34 pm
Location: New York, NY

Re: Fine Art: Appraisal and insurance concerns

Post by Rob5TCP » Wed Feb 26, 2020 10:36 pm

I've had photographs that had appreciated substantially in the 20 years since I bought them. Originally I bought a "fine art" package to cover all that were valued under 20k. One piece has become well beyond that value and I keep it stored in an insured, "locker" for art pieces. I bought the same picture (without the artists signature) that is worth about 1/20 of the value and keep that on the wall. The other pieces have increased but not dramatically. I purchased a rider covering the value of my photos and the one in storage has it's own policy.

Your agent should be able to give you all the information. Only two of my photos have been professionally appraised - the rest I did an appraisal based on auction values of comparable pieces.

HereToLearn
Posts: 670
Joined: Sat Mar 17, 2018 5:53 pm

Re: Fine Art: Appraisal and insurance concerns

Post by HereToLearn » Wed Feb 26, 2020 10:41 pm

I would call Chubb to confirm about not needing an appraisal.

I insured several pieces of jewelry in addition to my Chubb HO insurance. Annoyingly, they bumped up the appraised value of each item every year, resulting in higher total premiums. If I wanted to reduce the amount of coverage on an individual item, I had to submit a new appraisal. I finally decided to insure the jewelry under a blanket coverage where I don't need to submit appraisals, but do need to retain the appraisal for my own record. I suppose the downside of this approach is that the appraised values will be frozen in time, but their increases outstripped the value of the jewelry.

Chubb will be happy to review their policy terms with you.

fposte
Posts: 1787
Joined: Mon Sep 02, 2013 1:32 pm

Re: Fine Art: Appraisal and insurance concerns

Post by fposte » Wed Feb 26, 2020 10:42 pm

I don’t know about renter’s insurance, but I got an art rider on my homeowners’ insurance in a similar situation. I first got an appraisal from an accredited appraiser (it was $275 for the service). I pay about $60 per year now for the rider.

User avatar
ResearchMed
Posts: 10237
Joined: Fri Dec 26, 2008 11:25 pm

Re: Fine Art: Appraisal and insurance concerns

Post by ResearchMed » Wed Feb 26, 2020 10:45 pm

totallynotsure wrote:
Wed Feb 26, 2020 10:28 pm
ResearchMed wrote:
Wed Feb 26, 2020 10:18 pm
totallynotsure wrote:
Wed Feb 26, 2020 9:46 pm
hi all, i recently inherited a piece of fine art. i am not entirely sure of the worth, but i don't even feel comfortable handling it. it is unframed but i believe my first step should be to figure out how to insure it.

as my friends/family have never had to do this, from my limited research it sounds like i have a few options:

1. renters insurance - but i'm worried that it's not specific to this piece unless i'm able to get an appraisal and add a rider. i've spoken with Amica who seem to be pretty highly rated.

2. specific fine art insurance (Hiscox gets rave reviews in the UK...alas i'm in the US) via Chubb or AIG Private Client

what's the best approach here keeping in mind it might be difficult to appraise? what specific steps should i follow?

thanks!
Do you have a regular renters insurance policy? With that or with homeowners policy, you'll very likely want to get a valuable item(s) rider, to get proper coverage (for causes and for total amount).
As for the value, you didn't mention what type of item, but you mentioned a frame, so it is probably artwork (or a photo?).
If the former, you might check with a major art museum and ask them if they could recommend an appraisal.
Or an auction house in a large city.
If it is *really* valuable, then please be careful about who knows you have it, and also where you live. This is something that probably won't fit in a safe deposit box!

One reason to have it properly insure is so you can display it (either in a living room, or perhaps more privately in your bedroom if you don't want others to see it) without worrying about something happening to it.

Get "all causes" coverage, so if it gets splashed with water (or wine!), you'll be covered.
That might not bring back any sentimental value, but it would give you something to "take its place".

Call an independent insurance broker, someone who deals with several insurers, if you don't already have insurance, or if you aren't pleased with your current policy or agent.

RM
thanks, this is great info. i rent currently and do not have renter's insurance.

i did call one insurance company (Amica) and one broker who deals with Chubb.

in regards to the renter's insurance. if i insure the contents of my apartment for the contents + the art, will it not be fully covered? i get the impression it might be covered from fire, flood and theft but not other things such as dropping, getting bumped into, etc. which is what i'm truly concerned about.

additionally, i believe some policies have a limit on just how much they'll pay out on a single item when using just renter's or home owners insurance.

RM: Most regular policies will have a rather modest coverage limit for non-scheduled items (those not listed on a separate schedule). It could be as low as $1k or 2.5k or such. And it would be for very limited causes. See below.

the other component is that for the valuable item insurance it seems some (most?) need a professional appraisal which would entail me transporting the item (or at least handling it to get good photos) while it's uninsured.

RM: We faced this recently (not artwork, but collectibles that MIL gave us). It's easier now as one can email a photo to see IF the company/appraiser will deal with it, or if they think there's no point, etc. They can usually come to you at an extra charge. You are not the only one with this concern; some families have paintings or other collectibles of enormous value!


RM: Yes, you would need a professional appraisal for anything of value. This could be a sales receipt in other situations, but that won't work for you.

interesting, Chubb's site states this:

We only require appraisals for individual jewelry pieces valued at $100,000 or more, fine art items valued at $250,000 or more, and collectibles valued at $50,000 or more. Otherwise, we just need a detailed description and estimated value.

RM: This means what is discussed above. I don't see how you could ever get coverage without a proper appraisal, given you have no sales receipt or such. I've never even heard of the insured person just describing an item and given their own opinion about the value...

however, i think to get an individual plan like this i might need to also get another policy such as renters + fine art.
This signature is a placebo. You are in the control group.

Flyer24
Moderator
Posts: 1678
Joined: Sun Apr 08, 2018 4:21 pm

Re: Fine Art: Appraisal and insurance concerns

Post by Flyer24 » Thu Feb 27, 2020 12:15 am

Topic moved to Personal Finance.

User avatar
FlyAF
Posts: 514
Joined: Tue Jan 23, 2018 11:14 am

Re: Fine Art: Appraisal and insurance concerns

Post by FlyAF » Thu Feb 27, 2020 9:55 am

I fool with expensive artworks quite a bit. I buy/sell and rotate works in my home. My homeowners insurance (Travelers) let me add a rider to the policy for artwork for an amount that I specified (call it 100k). I personally find appraisals pretty pointless. Just because some random says a work is worth x, it certainly doesn't mean there is a buyer out there willing to pay that. So I'm not going to waste money on appraisals several times a year and they don't require me to. I do have to keep an up to date "inventory" with them though. When I get rid of a piece or bring in a new one, I have to send in pics of the works and pics of the COA's. I've only ever used one company for this purpose so I'm not sure how others do it. They were great about setting it up and it is surprisingly cheap considering someone could simply grab a painting worth 50k off the wall and walk out the door. I mean, they're on full display, not locked away in a hidden safe.

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Thu Feb 27, 2020 10:56 am

FlyAF wrote:
Thu Feb 27, 2020 9:55 am
I fool with expensive artworks quite a bit. I buy/sell and rotate works in my home. My homeowners insurance (Travelers) let me add a rider to the policy for artwork for an amount that I specified (call it 100k). I personally find appraisals pretty pointless. Just because some random says a work is worth x, it certainly doesn't mean there is a buyer out there willing to pay that. So I'm not going to waste money on appraisals several times a year and they don't require me to. I do have to keep an up to date "inventory" with them though. When I get rid of a piece or bring in a new one, I have to send in pics of the works and pics of the COA's. I've only ever used one company for this purpose so I'm not sure how others do it. They were great about setting it up and it is surprisingly cheap considering someone could simply grab a painting worth 50k off the wall and walk out the door. I mean, they're on full display, not locked away in a hidden safe.
i am hoping i can call Chubb and find out it's as easy as that. it seems wild that you could insure something for that much without any real proof of its worth...

User avatar
cowdogman
Posts: 501
Joined: Sat Dec 16, 2017 7:44 pm
Location: Washington State

Re: Fine Art: Appraisal and insurance concerns

Post by cowdogman » Thu Feb 27, 2020 11:41 am

totallynotsure wrote:
Thu Feb 27, 2020 10:56 am
it seems wild that you could insure something for that much without any real proof of its worth...
Well, yes, but keep in mind the premium you pay will be based on the agreed value. It's not in your interest to inflate the price if you don't expect a loss.

I have various valuable rugs. State Farm required appraisals (which was pretty easy) and didn't question the valuations. Again, my premium (payable year after year) was based on the valuations and so it wasn't in my interest to have inflated prices.

User avatar
ResearchMed
Posts: 10237
Joined: Fri Dec 26, 2008 11:25 pm

Re: Fine Art: Appraisal and insurance concerns

Post by ResearchMed » Thu Feb 27, 2020 12:09 pm

totallynotsure wrote:
Thu Feb 27, 2020 10:56 am
FlyAF wrote:
Thu Feb 27, 2020 9:55 am
I fool with expensive artworks quite a bit. I buy/sell and rotate works in my home. My homeowners insurance (Travelers) let me add a rider to the policy for artwork for an amount that I specified (call it 100k). I personally find appraisals pretty pointless. Just because some random says a work is worth x, it certainly doesn't mean there is a buyer out there willing to pay that. So I'm not going to waste money on appraisals several times a year and they don't require me to. I do have to keep an up to date "inventory" with them though. When I get rid of a piece or bring in a new one, I have to send in pics of the works and pics of the COA's. I've only ever used one company for this purpose so I'm not sure how others do it. They were great about setting it up and it is surprisingly cheap considering someone could simply grab a painting worth 50k off the wall and walk out the door. I mean, they're on full display, not locked away in a hidden safe.
i am hoping i can call Chubb and find out it's as easy as that. it seems wild that you could insure something for that much without any real proof of its worth...
FlyAF buys and sells artwork. That's an unusual arrangement except for art dealers. So there may be some special type of policy.

We use Travelers, and get the valuable items rider. They've been wonderful to work with when we had a claim (more than once, over the decades).
We have some sort of "high value" home policy. But I had similar rider for my townhouse homeowners policy, and they were similarly very good about any claims (home or valuable items). That's why we have them for this house.

You might give them a call to discuss it. Perhaps they can tell you how to figure the value.

RM
This signature is a placebo. You are in the control group.

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Thu Feb 27, 2020 3:12 pm

hi all, update here.

just got a quote from Chubb. i'll need to package it with Renters Insurance.

$500K of Personal Liability + $100K Contents + $50K Artwork = $1,021/year

the Renter premium is $880/year with a deductible of $2,500 and the art is $141.

thoughts?

RetiredArtist
Posts: 148
Joined: Wed Aug 26, 2015 4:38 pm

Re: Fine Art: Appraisal and insurance concerns

Post by RetiredArtist » Thu Feb 27, 2020 3:26 pm

It's just as well to have renter's insurance.
How do you know the value of your piece of art?
Some of the auction houses like Sotheby's have free appraisal days.
For insurance, you will want replacement value, rather than auction or sales value.

TomCat96
Posts: 1040
Joined: Sun Oct 18, 2015 12:18 pm

Re: Fine Art: Appraisal and insurance concerns

Post by TomCat96 » Thu Feb 27, 2020 3:42 pm

This is not a generalist question in my opinion.

Every type of valuable collectible has its own idiosyncrasies. I would find a community of like minded individuals in the fine art community and ask them what they do.

User avatar
FlyAF
Posts: 514
Joined: Tue Jan 23, 2018 11:14 am

Re: Fine Art: Appraisal and insurance concerns

Post by FlyAF » Thu Feb 27, 2020 3:46 pm

totallynotsure wrote:
Thu Feb 27, 2020 3:12 pm
hi all, update here.

just got a quote from Chubb. i'll need to package it with Renters Insurance.

$500K of Personal Liability + $100K Contents + $50K Artwork = $1,021/year

the Renter premium is $880/year with a deductible of $2,500 and the art is $141.

thoughts?
That seems reasonable. I can't remember the exact number off the top of my head, but I pay a few hundred a year for 3x'ish that amount of coverage.

First I would try to figure out of this piece is worth anything near 50k though. I see this ALL THE TIME. People inherit a piece of art that they just KNOW is extremely valuable. Many times it's because the relative used to spin tall tales about it's origins and how they acquired it. These folks are absolutely stunned to find out their beloved piece is virtually worthless. When it comes to inherited art, this happens 95+% of the time from my experience. If your piece is worth tens of thousands of dollars, I think a simple google search of the artist is going to turn up quite a bit of info. that will be pretty easy to determine if their stuff truly fetches that amount of money.

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Thu Feb 27, 2020 3:51 pm

FlyAF wrote:
Thu Feb 27, 2020 3:46 pm
totallynotsure wrote:
Thu Feb 27, 2020 3:12 pm
hi all, update here.

just got a quote from Chubb. i'll need to package it with Renters Insurance.

$500K of Personal Liability + $100K Contents + $50K Artwork = $1,021/year

the Renter premium is $880/year with a deductible of $2,500 and the art is $141.

thoughts?
That seems reasonable. I can't remember the exact number off the top of my head, but I pay a few hundred a year for 3x'ish that amount of coverage.

First I would try to figure out of this piece is worth anything near 50k though. I see this ALL THE TIME. People inherit a piece of art that they just KNOW is extremely valuable. Many times it's because the relative used to spin tall tales about it's origins and how they acquired it. These folks are absolutely stunned to find out their beloved piece is virtually worthless. When it comes to inherited art, this happens 95+% of the time from my experience. If your piece is worth tens of thousands of dollars, I think a simple google search of the artist is going to turn up quite a bit of info. that will be pretty easy to determine if their stuff truly fetches that amount of money.
I did my due diligence on the art

Appreciate the advice!

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Thu Feb 27, 2020 3:52 pm

$500K liability and $100k contents sounds like way too much to me.

I’m going to have them rework the quote.

User avatar
ResearchMed
Posts: 10237
Joined: Fri Dec 26, 2008 11:25 pm

Re: Fine Art: Appraisal and insurance concerns

Post by ResearchMed » Thu Feb 27, 2020 4:06 pm

I don't know what your home contents are, so that's up to you, obviously.

But are you getting full replacement value?
Then, if your house/contents are badly damaged or a total loss, you'd get enough to buy similar.
Otherwise, you'd get the value of "used furniture/etc." - which is... not very much.

Of course, if you've furnished your place from a nice used furniture store, then regular is just fine.
(It's just hard to find the nicer pieces, alas.)

RM
This signature is a placebo. You are in the control group.

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Thu Feb 27, 2020 4:09 pm

ResearchMed wrote:
Thu Feb 27, 2020 4:06 pm
I don't know what your home contents are, so that's up to you, obviously.

But are you getting full replacement value?
Then, if your house/contents are badly damaged or a total loss, you'd get enough to buy similar.
Otherwise, you'd get the value of "used furniture/etc." - which is... not very much.

Of course, if you've furnished your place from a nice used furniture store, then regular is just fine.
(It's just hard to find the nicer pieces, alas.)

RM
House is furnished mainly with hand me downs or via Craigslist. Clothing is probably worth more honestly.

Thanks for the insight!

Topic Author
totallynotsure
Posts: 84
Joined: Wed Feb 26, 2020 10:35 am

Re: Fine Art: Appraisal and insurance concerns

Post by totallynotsure » Fri Feb 28, 2020 7:43 am

just to follow up here.

i think i may be going with the Chubb policy. before i do i was hoping to get some more feedback on the terms/cost.

i'm looking at a total of $909/year for the following:

Renter's Insurance Component
($768 Premium + $5K deductible):
$500K Personal Liability
$100K Contents Coverage

Valuable item Component:
($141 Premium)
$50K full coverage which includes misplacement

i had to package the Renters in order to get the Valuable Item. i just want to make sure this isn't completely out of whack before i either proceed or look into other options.

i have a call out to two other providers; Amica - which i don't believe has any specialization in Valuable Items and AIG Private Client.

thanks again!

User avatar
Quercus Palustris
Posts: 158
Joined: Sun Apr 08, 2018 12:31 pm
Location: Maryland

Re: Fine Art: Appraisal and insurance concerns

Post by Quercus Palustris » Fri Feb 28, 2020 9:41 am

We have Amica homeowners insurance (and had their renters coverage while in an apt). If their artwork insurance works like it does for jewelry, they asked for receipt, appraisal, and sometimes a picture of the items and added specific coverage for those amounts. It didn't seem like you could get the coverage separately from a home/rental policy (though there's many compelling reasons to have one anyway, search here for threads).

Post Reply