You can insure for a "stated value." This means that you and the company
agree in advance what the value is for each item. In the event of loss
the company pays the state value. Generally the client guesses and the
actual value is figured out after the loss. You seem to be using the
traditional (you guess - perhaps with an "experts" input) and pay a
premium based on that and figure the real value later. If you want to
value items based on their past value, and if they can't be replaced why
not then see if a stated value policy based on acquisition cost if
agreeable to the company. It would save the cost of an expert.


On Mon, 13 Jul 1998, Trevor M Jones wrote:

> Our Insurance/Risk Management agency has asked us to appraise our
> historical collection for insurance purposes. We are trying to determine
> if we should do this in-house, hire local "experts", or get a full
> professional appraisal.
>
> Does anyone have any advice or suggestions? A substantial
> percentage of our collection (6,000+ pieces, mostly 19th century) has
> never undergone any valuation process.
>
> Any help would be appreciated. Feel free to respond on or off list.
>
>
> Trevor Jones
> Curator of History
> Early American Museum
>
> [log in to unmask]
>