This report is necessary to protect your items against loss or damage. The information contained in this report allows your valuables to be replaced with comparable items or to establish replacement valuation for cash. In the insurance industry, “replacement cost” or “replacement cost value” is a method used to determine the value of an insured item. Replacement cost is the actual cost to replace an item to its pre-loss condition. Many insurance companies will accept valuations based on wholesale replacement while others require retail replacement valuations. In the event your item cannot be replaced or you prefer cash, replacement valuation is commonly based on the valuation submitted to the insurance company by a recognized jeweler. These valuations are used as a basis to compute the premium you pay for coverage. Boston Estate Appraisal will assign the proper valuation to your items so you have adequate coverage while not overpaying.