Are online appraisals sufficient for insurance coverage or tax purposes?
Your insurance company or the IRS may require what is referred to as a qualified appraisal. This is an appraisal based on firsthand inspection and in-depth research by a qualified appraiser. Depending on your intended use and the results of your online appraisal, you may wish to arrange for the appraiser to provide a qualified appraisal. A qualified appraisal is generally required by the IRS if the value of your object is over $5000. The level at which insurance companies require a qualified appraisal for itemization on a policy varies from company to company. You should consult with your insurance company and tax advisor for specific details as they apply to you. Can I request a qualified appraisal based on firsthand inspection of my item? Yes. If you require a qualified appraisal after the initial online appraisal you will then have the option of requesting this from your appraiser at their customary hourly fee, less your initial $35 online appraisal fee. We will attempt to match you
