Submit a valuation report to your insurer later: How to secure your full entitlement
23.06.2025
10
Minutes
Katrin Straub
Managing Director at nextsure
You own valuable items, but have failed to document their value for insurance purposes? In the event of a claim, this can quickly turn into a financial disappointment. There are, however, ways to submit a valuation for insurance after the fact and secure your claim.
The topic in brief and concise terms
Although a valuation report can be submitted after a loss, the burden of proof for the value lies entirely with the policyholder.
Without a prior valuation, there is a risk of underinsurance, which in the event of a claim leads to proportional reductions in compensation.
For high-value items such as classic cars or works of art, an up-to-date valuation report is often a prerequisite for insurance cover and should be renewed every two to three years.
The Invisible Danger: Why a Missing Report Leads to Underinsurance
Many policyholders feel falsely secure. They pay their premium for years, but when a claim occurs, the rude awakening follows. If the insured sum is lower than the actual value, this is known as underinsurance. If underinsurance exists, the insurer reduces the benefit proportionally. For example, if you insure household contents worth 100,000 euros for only 70,000 euros, there is underinsurance of 30 per cent. In the event of a loss of 20,000 euros, you will therefore receive only 14,000 euros. A missing valuation report is often the direct route to this gap in cover. Without a professional assessment, the value of specialist items such as art or classic cars is often set too low. To avoid this, it is important to insure the classic car at market value. Proactive documentation of the value is therefore not a luxury, but a necessity for protection.
Your obligations under the insurance contract: the legal basis of the burden of proof
The Insurance Contract Act (VVG) clearly regulates the rights and obligations of both parties. A key duty of the policyholder is the so-called obligation of compliance. This includes all contractual duties of cooperation, such as answering application questions truthfully. In the event of a claim, this also includes the duty to prove the occurrence and amount of the loss. If you cannot substantiate the value of a stolen piece of jewellery, you are in breach of this duty to provide information. The consequence can be a reduction in benefits or, in the worst case, the insurer being completely released from liability. An expert report prepared retrospectively is legally weaker than one prepared before the loss. The insurer may question its neutrality and commission its own counter-report, which often leads to disputes. A suitable classic car insurance therefore usually requires an expert report from the outset. In this way, the policyholder’s legal position is strengthened from the very beginning.
After the damage event: How to successfully submit an assessment afterwards
If the damage has already occurred without a valuation report being available, swift and strategic action is required. You must now substantiate the value at the time of the damage. Simply submitting a report commissioned by you afterwards is often not enough. The insurer will examine the circumstances carefully. To improve your chances, you should combine several forms of evidence. Complete documentation is crucial here.
The following documents strengthen your position:
Original purchase receipts, invoices or certificates.
Photos or videos of the item in your possession before the damage occurred.
Statements from witnesses who can confirm the value or ownership.
Bank or credit card statements proving the purchase.
A damage and valuation report prepared by a recognised expert.
Our expert tip: Communicate transparently with your insurer from the outset and announce that you will submit supporting evidence later. A cooperative approach can avoid confrontation and speed up the process. Understanding the costs of classic car insurance also helps you assess the vehicle's value correctly.
Proactive valuation: An investment that pays off in an emergency
The costs of a preventative valuation report may seem like an unnecessary expense to some. However, a comparison of the potential outcomes in the event of a claim paints a different picture. A short appraisal for a classic car often costs only a few hundred euros. By contrast, a lack of proof can lead to a loss of many tens of thousands of euros. Let us look at a worked example: a classic car has a market value of 50,000 euros. Without an appraisal, it is valued in the policy at a flat rate of 25,000 euros. In the event of theft, this creates a direct shortfall of 25,000 euros. The cost of an appraisal of around 500 euros would have prevented this loss. The investment in a professional valuation therefore amounts to only one per cent of the potential loss. Anyone who chooses the right appraisal for classic cars protects themselves for a fraction of the vehicle’s value. This preventative measure is the key to full compensation.
Special cases in focus: What is particularly important for classic cars, art and jewellery
Certain valuable items are subject to stricter rules, as their value cannot be determined on a flat-rate basis. For classic cars, works of art or high-quality jewellery, a valuation report is often a requirement for taking out comprehensive insurance. Insurers generally require an expert appraisal here for values from €50,000 upwards. Without such a document, it is hardly possible to obtain classic car insurance without an appraisal. There are various types of appraisal, each serving different purposes.
Here are the three most important types of appraisal:
Short valuation report: Used purely to determine the value for insurance purposes and costs between €150 and €500.
Comprehensive valuation report: Documents condition, history and originality in detail, important for very high-value items.
Appraisal in accordance with Section 23 StVZO: Required for approval as a historic vehicle (H licence plate) in Germany.
Our expert tip: Have valuations for valuable items on volatile markets, such as art or collector vehicles, updated every two to three years. This is the only way to ensure that any increase in value is reflected in your insurance cover and that you are not underinsured. This is an important step when putting together everything required for classic car insurance.
Conclusion: Proactive action beats risky waiting
The question of whether a valuation report can be submitted to the insurer afterwards can be answered with a “yes, but”. It is legally possible, but it comes with significant disadvantages and risks. The burden of proof always lies with the policyholder, and a retrospective appraisal is in a weaker position than one prepared proactively. The best strategy is to have valuable possessions professionally valued at an early stage. This small investment protects against major financial losses and ensures a smooth claims process in the event of a loss. Act before it is too late.
Request an individual risk analysis now: Have your insurance situation checked free of charge and receive specific recommendations for improvement.
More useful links
Wikipedia offers a general overview of the topic of valuation.
The Verbraucherzentrale provides information as an independent organisation on consumer rights and advice.
The DEKRA provides information on insurance appraisals.
The GTÜ offers detailed information on valuation reports, especially for classic cars.
Wikipedia explains the term and significance of expert reports in general.
Wikipedia offers insights into the principles of property valuation.
Wikipedia specifically examines the valuation of classic cars.
FAQ
Can I submit a valuation report for the insurance later?
Yes, in principle you can also submit a valuation report after a loss has occurred. However, you then bear the full burden of proof to demonstrate the value of the item at the time of the damage, which is often difficult and can lead to disputes with the insurer.
What is a breach of duty in connection with a valuation report?
A breach of an obligation occurs if you do not fulfil your contractual obligations. If you cannot prove the value of a damaged or stolen item, you are breaching your duty to provide information. This may result in a reduction or refusal of the insurance benefit.
Why is a proactive valuation report better?
An appraisal drawn up before a loss clearly defines the insured value and helps prevent underinsurance. It serves as an incontestable basis for compensation and prevents lengthy evidentiary proceedings and financial losses.
How do I prove the value of jewellery or art without an appraisal?
Without an appraisal, you must provide alternative evidence. This includes purchase receipts, certificates, photos showing the item in your possession, or detailed bank statements. However, for very valuable items, this is often not sufficient.
How often should a valuation report for a classic car be updated?
As the value of classic cars can fluctuate, it is recommended to update the valuation every two to three years. This ensures that your insurance cover keeps pace with changes in value.
How much does an appraisal cost?
Costs vary depending on the type and scope. A brief report for a classic car can cost between 150 and 500 euros. A comprehensive report is more expensive. However, these costs are low compared with the potential loss in the event of a claim that has not been sufficiently documented.
