View Single Post
  #4  
Old August 24th 18, 01:42 PM posted to rec.crafts.textiles.quilting
Night Mist
external usenet poster
 
Posts: 44
Default stolen quilts - how frequent

On Thursday, August 23, 2018 at 12:02:42 AM UTC-4, Kathyl wrote:
I think you would need a certified appraisal on the quilt in order to have it insured for more than just the cost of the materials.


OK, I have spent a couple of days searching online, and put in a call to my own insurance agent, to see if things have changed at all with insurance.

Basically no.

If you have a business license you can get business insurance that will cover what you make.
My agent told me that if I sell something and it and it's provenance make it's way back to me it can be insured for it's last recorded value under my current policy.

I am sure that some place out there there may be some insurance company that will accept an appraisal on something you yourself made as actual value. However I have not found any such yet. A sales history is one thing, that proves that it can be sold for a value, an appraisal is just a guess with no proof that the thing can ever be sold. My agent did note that an appraisal would likely have more value in getting something insured if you have receipts for sales of similar items you have made at similar value. If you often sell such things however, specialty insurance would be more certain.
Basically if you are not in business what you make has no value above cost of materials so far as most insurance companies are concerned. If you are in business you need records of what you sell stuff for so they can get a handle on what what you make is worth.
These companies are in a money business. So if you cannot demonstrate your work to them in terms of money, they figure it has no value. What you paid out in money is what you get back in case of disaster.

NightMist
Ads