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; they facilitate genuine insurance claims rather than complicate them.

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Insurance loss or damage and 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.

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Charitable donations

Canadians donating art, antiques, or other collectibles worth more than $1,000 to registered charities and institutions with charitable status 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 and institutions to ask that appraisals comply with “industry standards.” To learn more about how Appraisal Associates can provide you with appraisal reports for charitable donation purposes, please contact us.

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 value a wide variety of cultural property ranging from ethnographic artifacts to contemporary artworks.

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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. Additionally, we can advise clients of the most appropriate sale venues to maximize return.

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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 recognized professional standards. 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.

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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. This approach reduces the cost of appraisal services for both parties.

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