In order to qualify for a floater policy on new valuables, you must have very recent sales receipts or get professional appraisals of the items you will be insuring. Older valuables may need updated appraisals. Use a generalist if you need the entire contents of your home appraised, a specialist if you own jewelry, silverware, antiques, art work, etc. Find out in advance if you'll be charged a flat fee or by the hour.
To cut costs, organize valuables in advance. Make sure they are clean, accompanied by sales receipts when available, and placed on a table. Explain to the appraiser that the appraisal is being done for insurance and not tax purposes (it makes a difference). Ask the appraiser to note the condition, age, size, and value of the objects.
For the name of several appraisers in your area, call the American Society of Appraisers at 1-800-272-8258 or visit their Web site at www.appraisers.org.
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA (Opens in a new Window)/SIPC (Opens in a new Window). UniVest Financial Services is a trade name of UniBank. Infinex and UniBank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of, nor guaranteed or insured by, any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.