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Insurance and Appraisals
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Now that you are the steward and caregiver for your tribal weavings, the importance of insurance needs to be addressed. Little can give more heartache than the loss of a trea-sured family heirloom, or a collection of hard-won and laboriously acquired textiles.
Insurance is always recommended, be it a specific fine arts policy, or just the part of a homeowner's/renter's policy that covers rugs, art, and jewelry. Even though it would not be possible to replace a lost item, one can at least replace it with something of equal value which can also be loved and appreciated.
To properly insure textiles, we suggest a written appraisal, with photographs, from a knowledgeable appraiser. Not every carpet dealer can do an accurate appraisal, nor do insurance companies look upon all appraisals with equal surety. Be wary of rug sellers who give you a replacement valuation which is much higher than the price you just paid for the rug. Insurance companies tend not to place much confidence in such appraisals, but rather use the selling price as the real replacement value. This is true of purchases made in the recent past.
Too many times we have seen people distraught by calamity, trying to make an insurance claim based on an old family photo that shows a small portion of a rug now lost.
Attempting to identify and place a value on a rug from such sketchy evidence is futile. It is a good idea to make a video of collectibles in place, with additional commentary of any important details. In addition, keep sales receipts and rug tags in a safe place. Ask your insurance agent about insurance options and their costs.
We not only provide insurance appraisals, but are also here to answer your questions on the general issue of appraisals, insurance, and replacing your lost, damaged, or stolen tribal rugs and textiles. Please inquire if you are interested.
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We've been outfitting caravans
from Downtown Charlottesville since 1978.
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