What is a high value item?
High Value Items are those items having an individual or set value of US$1,000.00 or more. High value items include, but are not limited to:
These items must be individually declared on the value list; if high value items are not specifically declared, recovery will be limited to a maximum US$100.00 per item or set.
Items Grouped Together
For insurance purposes, items grouped together will be considered of equal value. For example, if you have silver in your shipment and you declared 100 pieces at US$5,000, then in the event of a claim each item will be insured for a maximum US$50.00 If you have an item within a group that is valued higher than the others, be sure to declare this item separately.
Ideally, if you chose to group items, like silver, you should list them by category with values. For example:
12 teaspoons @ US$600.00 (Each is insured for US$50.00)
12 salad plates @ US$1,000 (Each insured for US$83.33)
1 serving platter @ US$250.00
This clearly shows the value each item is insured for. General listings with a lump sum amount will prove difficult to work with should there be a claim.
An appraisal is a very important document to substantiate value, current condition, and authenticate the genuineness of high value items, such as, but not limited to antiques, silverware, oriental rugs, paintings, statues and other objects of art.
An appraisal must contain the following minimum information:
An appraisal may be considered current provided all information is accurate and it reflects the current condition of the item, and then, only if the appraisal is less than 6 months old.
An appraisal should be made by a certified professional individual who is a licensed appraiser and only by those who can furnish written documents that verify their qualifications for the type of property being appraised.
Photographs showing the item from various different angles are highly recommended.
Examples of when a current appraisal should be provided:
If a current appraisal is available when issuing the certificate online, then please attach a copy online. If a current appraisal will not be obtained, then advise the property owner that in the event of loss or damage, the claim may not be favorably considered without the substantiation of value and condition.