Appraisal for Insurance

[JIMRPT@AOL.COM]

In a message dated 11/10/1999 5:35:09 PM, you wrote:

<<When preparing an appraisal for insurance purposes, is the appraised value 
to 
be the market resale value for the instrument in it's present condition or 
for replacement with
the same brand or one of equal value?   And does "sentiment" figure in at all?
>>

Bruce;
 "Sentiment" does not play any role in valuing a piano but some companies 
will allow you to set the value and insure the item for what you say it is 
worth at an advanced premium.........

  There are many different values placed in insured items but the ones we are 
most concerned with are:
1. Present value as is. a.k.a. Fair market value.
2. Replacement with like item, used. (doubtful possibilities here :-)
3. Replacement with new, same model, of the same brand and/or other 
comparable new instrument.

 I recommend to all my customers that they partake of the replacement 
indorsement.  This without regard to the quality of instrument they have.
Jim Bryant (FL)