Friday, April 25, 2003

Georgia residents urged to appraise valuables before hurricane season begins

The American Society of Appraisers urges residents of hurricane-prone areas in the state of Georgia to have their valuables appraised by an accredited professional appraiser before the 2003 hurricane season begins.

According to Ted Baker, ASA's executive vice president, people often discover only after disaster strikes that memories and photos of cherished objects are not enough to satisfy insurance companies when making a claim. These objects may include jewelry, family heirlooms, artwork, silverware, china, collectibles and other items of worth.

"An appraisal is a document as important as a will," Baker said. "It helps people with even a modest number of valuables to record what they own and what it's worth. To protect themselves, residents of Georgia and of other areas where hurricanes may strike should obtain professionally prepared appraisals before the upcoming season begins and keep them in a safe location just in case the unexpected happens," noted Baker. He added that this advice applies to any area where natural disasters may strike.

For those interested in obtaining an independent and credible appraisal, ASA offers the following advice:

Hire an independent appraiser with no stake in the outcome of the valuation. As long as an appraiser has no interest in buying or selling your property, you can avoid any conflict of interest.

Allow approximately four to six weeks to complete a professional appraisal. Contrary to what many people believe, appraisers cannot provide an accurate valuation just by looking at something. Accurate appraisals involve an initial inspection visit including a lengthy discussion regarding an object's history, sale price and condition ­ followed by extensive outside research.

Look for an appraiser accredited by ASA. These appraisers receive their accreditation only after years of rigorous testing, training and peer review, which ensures that you're getting the best valuation expertise on the market.

To find an ASA-accredited appraiser, visit www.appraisers.org and click on the Find an Expert Appraiser link at the top of the page.

Hurricane season along the Atlantic and Gulf coasts begins June 1 and lasts through Nov. 30. Last year, eight tropical storms struck the United States, including two (Tropical Storm Hanna and Hurricane Kyle) that directly affected Georgia.

The American Society of Appraisers is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. ASA is the oldest and only major organization representing all disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA's headquarters is in the metropolitan Washington, D.C., area.

To talk to an ASA-accredited appraisal expert in Georgia, please contact Maryann Verrillo at (703) 733-2117.