Insurance coverage

Insurance coverage appraisal reports are your evidence of value in the event of a loss and claim. These generally focus on estimating replacement value, which is your cost to replace a stolen, damaged or destroyed item with one of “like kind and quality.” The reports also bear witness that you were in possession of the property and provide an accurate description of it.

Appraisal Associates provides reports prepared to recognized valuation standards, ensuring that your insurance company has everything it needs to schedule coverage of your property. A complete and professionally prepared appraisal report will be beneficial in the event of a loss and claim. Our reports are deemed complete, substantiated, and rooted within generally acceptable principles of valuation. Complying with International Valuation Standards (IVS), they facilitate genuine insurance claims rather than complicate them.

Appraisal Associates has a great deal of experience with this type of appraisal, and most insurance companies in Canada are familiar with our reports. We offer several appraisal options based on the value of your property, the size of your collection, and the degree of detail you require.

Please contact us here to discuss insurance coverage appraisal options.

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Insurance loss / claim

Appraisal Associates works with many insurance adjusters who process complex and unusual personal property claims involving art, antiques, and decorative art. As a result, we understand the type of information insurance companies want in a claim-related appraisal report. Appraisal Associates can bring this knowledge and experience to your claim when your insurance company asks for proof of value.

Relying on close examination of damaged properties, interviews, and the review of existing documents, we piece together an independent and arm’s-length estimate of replacement value. Our reports describe the lost or damaged property in as much detail as possible and provide a substantiated value estimate reflecting market conditions and anticipated costs. All this is contained within a document complying with International Valuation Standards (IVS). 

Put our skill and experience to work for you when you need to produce proof of value in an insurance claim. For more information, please contact us here.

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Charitable donations

Canadians and Canadian businesses donating art, antiques, or other collectibles worth more than $1,000 to registered charities require written appraisal reports to establish the fair market value of the gifts. Increased accountability requirements and problems with overstated and unsubstantiated valuations have prompted many Canadian charities to ask that appraisals comply with “industry standards.”

Appraisal Associates addresses this key issue through compliance with International Valuation Standards (IVS). These standards meet or exceed the Canada Revenue Agency’s guidelines for appraisal reporting, offering both charity and donor professionally generated documents useful for income tax purposes.

To learn more about how Appraisal Associates can provide individuals or businesses with appraisal reports for charitable donation purposes, please contact us here.

Cultural property donations

The Government of Canada encourages the donation of cultural property “of outstanding significance and national importance” to public museums, galleries, and other designated institutions by providing certain tax advantages to Canadian donors. Appraisals estimating the fair market value of the gifts and conforming to specified guidelines are required in this process. 

Appraisal Associates works with a large number of major cultural institutions across Canada to provide cultural property appraisal reports and has great familiarity with the process and the requirements. Our appraisal reports meet or exceed the guidelines established by the Canadian Cultural Property Export Review Board (CCPERB). We appraise a wide variety of cultural property ranging from ethnographic artifacts to contemporary artworks.

Donors should consult with recipient institutions, but are encouraged to ask for Appraisal Associates’ services in the valuation of art, artifact or archival properties donated through Canada's cultural property program.

Please contact us here for more information.

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Prospective sale or purchase

Appraisal Associates provides clients with appraisal reports to estimate the market value of art or artifacts. Useful for either sales or purchases, these advisory reports address the key characteristics of value of the property in question, as well as a context of comparable sales. Rooted in an analysis of actual market experience, an appraisal report dealing with an item involved in a prospective sale or purchase provides objective guidance in the often complex and confusing marketplace for art and antiques. As well, we can advise clients of the most appropriate sale venues to maximize return.

In providing sale or purchase advisory reports, we stress that Appraisal Associates is independent and not affiliated with any auction house or dealer. We give our clients arm’s-length appraisal reports and advice based on a full spectrum of available market information. Appraisal Associates does not buy fine art, antiques, or decorative art, nor do we take property on consignment.

To discuss your purchase or sale advisory requirements, please contact us here

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Estate requirements

The division of estate personal property such as art and antiques sometimes requires the services of a qualified appraiser to generate a document for probate and tax purposes. Our independence, knowledge of various property types and appraisal skills yield reports that comply with International Valuation Standards (IVS). As well, Appraisal Associates provides estates with carefully researched equitable division strategies, accommodating the need for a fair and transparent allocation process acceptable to all concerned.

Please contact us here to discuss your estate appraisal requirements.

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Divorce and division of assets

In the spirit of collaborative family law, Appraisal Associates works in a co-operative way to provide clients with divorce and asset division appraisal reports. We require both parties to jointly retain us, thereby eliminating any issues of advocacy or bias. As well, we require both parties to agree in advance to abide by our independent, arm’s-length value conclusions, and to provide full access to all pertinent property and documentation. 

Appraisal Associates brings an extensive understanding of the fair market value concept to asset division appraisal. Issuing an arm’s-length appraisal report complying with the International Valuation Standards (IVS), our independent approach generates solutions rather than problems.

Please contact us here to discuss your appraisal needs in complete confidence.

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Insurance loss / claim for adjusters

Appraisal Associates has wide experience valuing art, antiques, and collectibles involved in insurance claims. From single-item claims worth less than a thousand dollars to large collections worth many millions of dollars, we have the breadth of knowledge and valuation expertise adjusters require.

Our appraisers are specialists in dealing with complex and difficult loss scenarios resulting from theft, fire, water damage, and other causes. We approach the appraisal process through the examination of damaged properties, structured interviewing of the insured, and the careful review of existing documentation and photographs, working toward substantiated estimates of replacement, actual cash, or salvage values.

Appraisal reports issued by Appraisal Associates comply with International Valuation Standards (IVS). As a result, you will find our reports address key elements of particular interest and concern to insurance adjusters.

Appraisal Associates provides insurance adjusters with loss-of-value appraisal reports (PDF 900 kb). Tackling complex issues such as inherent vice, the assessment of restoration quality, and the impact of condition on value, we use our knowledge and experience to help you solve your claim problems.

Please contact us here to discuss your claim-related appraisal requirements.

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