Fur Coats
It is important to have your fur coat appraised regularly.

If you own a fur coat, you know how expensive they can be to purchase. Fur coats are a valuable commodity and should be treated just like any other investment you make. This means protecting your fur coat from any damage it might incur or in the case of theft. Just like your jewelry that is worth a lot of money, you will want to purchase an insurance policy in case something happens.

Insurance Purposes

Before you start wearing fur coats out and about where they can become damaged, it is important to have an insurance policy to cover the cost of replacement. However, your insurance company isn’t going to just take your word for it on how much your fur coat is worth. They will want proof from a reputable appraisal to validate the amount of coverage for fur coats. They won’t want to spend more money than they have to if you need to make a claim.


Because the value of your fur will vary depending on many factors, particularly how well you take care of the coat, you should have your coat appraised once every two to three years to ensure the value of your furs is accurate. The last thing you want is to find out that your coat didn’t have the proper coverage to pay for it if someone steals it or it becomes lost. Therefore, it is important to stay current on your appraisals for the greatest impact.

Fair Market Value

Often confused with the appraisal, the fair market value is a type of appraisal that takes many factors into consideration. Not only will the condition of your coat be taken into account, the age of the coat and style can have an impact on the fair market values of fur coats. This value isn’t what an insurance company would pay you to replace the coat if something happens to it. Instead, this is the maximum price you are likely to get if you sell your fur coat. However, in general, it is important to remember that fur coats only have a fair market value of whatever someone is willing to pay.

Whether you are looking to sell fur coats or just make sure they are insured properly, it is important to get an appraisal, as well as know the difference between an appraisal and fair market value. Your insurance company will need an appraisal, while you will need to know the fair market value to sell your coat.