The current value of something you treasure might not be that important..............until you need to make an insurance claim.
And when you make a claim (and read your PDS), you realise the payout limitations of your policy.....................your not fully covered.....................all because you did not have the more valuable items specified, or the valuation was not up to date (did you know Allianz requires a valuation no older than 3 years *SureCover Home Insurance PDS).
Scammells Valuation Department can help you avoid these situations, before you need to make a claim. Having an up to date House Contents Valuation is so important. Is yours?
What do we value?
Our valuations provide the current market value for Fine Art, Works of Art, Collections, Antique Furniture, items of Gold and Silver (not including jewellery). For contents insurance (read your PDS), these items should be those in excess of “specified limits of cover”.
For example did you know Allianz “ will not pay more than $5,000 for any one item, pair, set or collection unless they are separately listed in the current schedule as specified contents items. The maximum amount we will pay for any one claim in respect of special items is $7,500 unless they are separately listed in the current schedule as specified contents items” and jewellery, watches or an item containing gold and/or silver. “we will not pay more than $2,000 for any one item, pair, set or collection unless they are separately listed in the current schedule as specified contents items;” (from their SureCover Home Insurance PDS).
There is no point paying us to do something you can do for free. So we wont be valuing your fridge, tv or teaspoons.....unless of course you would like us to.
Other types of valuations we conduct
Probate - where required by the family court to lodge probate for a decease estate
Market Value for Auction purchase - where you seek our written advice prior to purchasing an item from auction
Family Division - where family members require a valuation to resolve dispute or create a equitable resolve in property dispersement
Self Managed Super Funds - valuation or re-valuation for tax and SMSF purpose
Matrimonial Cases - where a dispute arises between both parties and the court requires an independent valuer to assess the assets
What are the differing basis for Valuation?
Insurance Replacement value – this value represents the full cost including GST to either replace the item in the same condition or have a new item manufactured
Auction market value – represents the sale value of the item if offered for sale by public auction
Fine Art Value – represents the sale value of a work if offered by public auction, where the artist is not represented in the auction market a retail replacement value (based on similar size and retail value within a representing gallery)