Appraisal

[macrowatch]

I think at the end of the day (over simplification) is you are looking at generic coverage attached to an existing policy. This will generally be cheaper, but coverage will be iffy depending on circumstances and fine print of the policy. Also don't forget the deductible. I remember I had one policy where it was $5k deductible per item...so...basically there was no coverage for the omegas since they were all worth less than $5k.

Then you have the specialized and itemized coverages where the underwriters have some clue what they are doing (think Art for example). The appraisal typically matters less here since you are setting the value you want insured it, they will decline anything that doesn't make market sense. But say for a 5711, what do you want to insure it at? $30k USD approx retail, $50k? $100k? They won't insure for $200k, but between list price and market...well...that's kind of your choice, and really there's no point in an appraisal in that situation for the insurers in that space since they just get more premium for whatever value you choose below market price.