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ASSET VERIFICATION SERVICES

Do you know the current value of your most treasured antiques, fine art, collectibles and jewelry?

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Our Service Offerings

Asset Verification, Inc. – A Full-Service Appraisal Firm

Many individuals lack current appraisals for their high-value personal possessions. As a result they have inadequate homeowners insurance, even for items currently covered under their Valuable Articles schedules. AVI can help! Our appraisal services provide insurance-approved, certified appraisals for all your personal property allowing you to individually schedule those items on your homeowners insurance. Imagine your peace of mind in the event of a loss due to theft, fire, or natural disaster. 

With the exception of jewelry, the scheduling of most highvalue personal property is usually relatively inexpensive. Most often, scheduled items are not subject to policy deductibles and depending on the insurance carrier may have cash conversion and built-in inflationary coverage as well.

Other uses for certified appraisals include estate planning or transfer, for tax purposes after charitable donations, or other legal matters.

Inventory Services

AVI’s highly trained Inventory Specialists will arrive at the appointed time to catalog the personal property contents of your residence room by room using a detailed process called Object  ID.  Developed by the Getty Museum as a way to precisely describe and identify precious art and aid in its recovery when stolen, Object ID is considered the international gold standard for appraisal professionals.

Careful cataloging leads to accurate appraisals. Your possessions are unique and our Inventory Specialists will photograph, measure, describe and record every detail.

China inventoried by Asset Verification, Inc.

Appraisals

After your items are inventoried, we objectively appraise your cataloged items using a specific USPAP-compliant protocol(1). USPAP (Uniform Standards of Professional Appraisal Practice) provides a set of ethical and performance standards for the entire appraisal industry. Whether we appraise the contents of your entire home or just a few high-value items, our standards are the same and are represented by our core values. Asset Verification offers 3 different types of Inventory and Appraisal Packages, designed to meet the needs of every individual homeowner or renter.

 

See more about our 3 levels of Inventory and Appraisal Packages.

Object ID

Why Asset Verification Uses Getty Object ID to Inventory Your Possessions

  • Getty ID is the ideal tool for developing accurate appraisal values for your personal assets.
  • It’s the international standard for establishing a unique identity for fine art and cultural objects.
  • Protocol involves photographing and recording over a dozen aspects of each of your personal assets.
  • Initiated by Getty Museum as a communication tool for recovering lost or stolen art.
  • Developed in collaboration with museums, the insurance industry, law enforcement, customs agents, and appraisers.
Asset Verification, Inc. Uses Getty Object ID

Aggregate Valuation

If you are our All-Inclusive Package client, we will inventory and appraise your entire home in preparation for calculating the Aggregate Value, or the total dollar value of all the inventoried personal property assets in your home. Also included in the All-Inclusive Package is a comparison of your current homeowners insurance coverage with suggested future coverage based on your new appraisal values. This report can also be used to identify which item categories and item types would benefit from being scheduled. In our experience, more than 75% of U.S. homes are underinsured because aggregate limits are too low. Now you can make informed decisions based on facts instead of estimates. Your aggregate valuation is also critical in the event of a homeowners insurance claim, equitable division of marital property or estate settlement needs.

Aggregate Valuation by Asset Verification, Inc.

Reports and Deliverables

Our detailed reports vary according to the Inventory and Appraisal Package you choose. For example, when you purchase our most popular All-Inclusive Package, we deliver all the room-by-room details of every cataloged object, including images, appraisals, and a summary appraisal report. This report includes your aggregate value, homeowners insurance comparisons, and a list of all your appraised assets worth $2500 or more. Our multiple reports also include a powerful search engine to quickly locate each object in the report. Custom reports are also available.

Contact us for more information about how you can increase the return on your insurance premium dollar, protect your high-value personal assets in the event of a loss, and insure your property with accurate appraisal information rather than estimates.

Secure Data Warehousing

All our appraisal work is completed in-house and stored under a unique client ID number in our secure, encrypted, web-based storage vaults for a minimum of five years. As an All-Inclusive Package client, you also have the option to purchase our Asset Manager Service which provides annual updates or additional custom reports for purposes including homeowners insurance coverage changes, estate planning or settlement, charitable donations, or legal proceedings. Some Packages also offer personal access to your files on our server so you can update your inventory as needed when it changes.

Data warehousing by Asset Verification, Inc.

(1) USPAP-compliance refers to the Uniform Standards of Professional Appraisal Practice that set performance and ethical standards for certified appraisers. These standards are designed to ensure that your valuations are developed in an unbiased manner to the highest standards in the appraisal industry.

Case Studies

AVI Helps Clients Recover From Catastrophic Losses

$7,000,000 Loss By Fire Fully Recovered

The unthinkable happened in the fall of 2019. Our client since 2008 lost his main residence of 15,000 square feet to fire. The tragedy unfolded following the first fire of the fall season when ashes removed from the fireplace in the family room were not disposed of properly. The home was engulfed in flames before the fire department arrived and the beautifully- appointed home was reduced to ashes. Artwork collected over decades along with elegant furnishings, wine, and clothing totaling over $7,000,000 went up in smoke. Fortunately, because of AVI’s timely updated appraisals over the years, plus the use of Valuable Article Coverage, the client has fully recovered. Without AVI’s detailed inventory and appraisal report this could have been a grueling exercise to recreate from memory the necessary information needed in the claims process. We at AVI like to say, “AVI gives our clients more information than they need, unless they need it!”

Facts Are Stubborn Things When Filing a Claim

Our client’s vacation home in Highlands, NC was struck by lightning and regrettably, the home was destroyed in less than two hours and deemed a total loss. There were two pieces of good news in this tragedy: 1. The client was not at home during the fire and 2. AVI had cataloged and appraised the contents which had led to increases in coverage and additional insurance riders. The cost of replacing the contents was over $3,000,000. The insurance company decided to fight the claim by first calling it arson, and when that was debunked, they filed a lawsuit disputing the size of the claim. This lawsuit went on for almost a year, but the day before our appraisal group was to be deposed, the insurance company wrote a check for the full amount of the claim plus legal fees incurred by our client. “Facts are stubborn things.” Without our documentation of the home’s contents and our detailed appraisals, the story would have ended tragically for our client.

Exact Reconstruction Far Easier With AVI’s Digital Images

Our client’s elegant condominium was contaminated with water and sewage and had to be gutted and rebuilt. AVI had completed an all-inclusive appraisal for this client and our digital documentation of the architectural embellishments in the condominium was so accurate, it allowed the client to leave the city during most of the reconstruction. The client was able to give the contractor AVI images from before the incident and simply state, “I want every wall, all the molding, cabinets and pieces of parquet replaced exactly as you see in these images.” Our detailed images were also of great benefit to the decorator, as she replicated the placement of paintings and furnishings to their original locations. Having a roadmap for reconstruction and redecorating allowed our client the confidence that daily supervision on site was not necessary.