Insurance underwriters rely on Retail Replacement Value to set accurate insurance policy coverage. Appraisal Bureau reports are accepted by all major insurance carriers.
Retail Replacement Valuations reflect the amount necessary to replace the property in the event of a loss. In addition to market analysis, insurance valuations consider factors in the replacement process such as availability of and access to similar artworks.
Depending on what type of Fine Art is insured, we recommend an updated valuation every six or twelve months to keep insurance coverage consistent with market changes. Appraisal Bureau clients have the opportunity to opt-in to appraisal subscriptions for reports adjusted at the preferred frequency.
The Appraisal Bureau NFT Valuation Methodology is used by major international insurance markets. Insurance underwriters may require monthly or quarterly valuation reports. Appraisal Bureau's proprietary technology allows for retroactive appraisals, satisfying claims requirements on behalf of custodians and security providers.
We support our clients throughout the claims process and are also trained to serve as Expert Witness.
Nina Chanel Abney, R&R, 2022
Miami World Center Public Art Program
Photo by Orio Photography