Art, Antiques and Hurriances!

When homeowners prepare for hurricanes, often their art and antiques get overlooked. The Miami CBS4 Affiliate ran an informative and public service article last week; the article was authored by their reporter Jorges Estavez. Here’s a portion of his report:

“When you are preparing for a hurricane, most of us have the basics, like boarding up the house, putting up shutters and stockpiling items like water, batteries, and canned food, down to a science. But there's still the issue of protecting your valuables, the ones you can't lock up like expensive furniture or antiques? Porcelain figurines, ornate chairs, priceless decorations, these are the items on a new kind of hurricane check list.

One woman, who asked to remain anonymous, told CBS4's Jorge Estevez she doesn't want you to make the same mistake she did with her stuff which got ruined after Hurricane Andrew. "My feeling was I really wanted to make sure that I knew what the appraisal value was, God forbid something should happen again," she said. Ever since, she has had everything appraised and thinks everyone else should too.

So make sure and ask yourself before a storm actually begins to head for South Florida, are my antiques checked? An appraisal can cost a couple of hundred dollars, but it could help you save thousands in the future.”To see the entire article, see: www.cbs4.com/local.valuables.antiques.appraisal.2.1109336.html.

Here in North Carolina, we are exposed to potential hurricane and wind damage, even in the areas of Raleigh, Durham and Chapel Hill. It is important to remember that although your homeowners’ insurance may be adequate, it is the responsibility of the homeowner to provide proof of existence and valuation of all art, antiques and collectibles. Insurance companies’ claim policies have different provisions. Without an insurance appraisal, many homeowners have limited options after their loss, and some insurance companies only allow for decorative replacement valuation for art and antiques unless adequate proof of real valuation exists prior to the damage or loss. Investment in an insurance appraisal for your original art, high end collectibles, and period furniture is always a wise choice, especially after you spend a lifetime acquiring your collection.

I provide my clients with two signed original copies of their appraisal: one to retain in their home and one to be retained either by an insurance agent or to be stored outside the home in a secure location. In addition, I retain copies of the appraisal and my notes for five years. So, if a loss occurs, clients will always have access to copies of their appraisal document which not only provides value, but also has detailed item descriptions and photographs. If items have significant historical provenance, I include that information within the appraisal, as provenance can greatly impact value. And, because I have viewed the items included in the appraisal, I am a valuable resource for homeowners who need to prove that items actually existed within their home! For more information on insurance appraisals, see the insurance appraisal section of my website: www.TheAuthenticAppraisal.com/appraisals.php#insurance.

Another good altnernative to insurance appraisals are home inventories, especially when prepared by a professional. Again, you not only have the inventory in a formal document, but your appraiser is your best advocate in the event of a loss.

Vicky Nash Shaw, ISA AM
Accredited Antique and Art Appraiser