Submit an appraisal report for insurance: How to secure your full claim
23 Jun 2025
12
Minutes
Katrin Straub
CEO at nextsure
Do you own valuable items but have failed to document their value for insurance purposes? In the event of a claim, this can quickly lead to financial disappointment. However, there are ways to submit a valuation for the insurance retrospectively and secure your claim.
The topic in brief and concise terms
A valuation report can be submitted after a loss, but the burden of proof for the value lies entirely with the policyholder.
Without a prior valuation, there is a risk of underinsurance, which can lead to proportional reductions in compensation in the event of a claim.
For high-quality items such as classic cars or art, a current valuation report is often a prerequisite for insurance coverage and should be updated every two to three years.
The Invisible Danger: Why a Missing Assessment Leads to Underinsurance
Many policyholders are lulled into a false sense of security. They pay their premiums for years, yet when a claim arises, the rude awakening follows. If the insured amount is lower than the actual value, it is referred to as underinsurance. If underinsurance occurs, the insurer reduces the payout proportionately. For instance, if you insure household goods worth €100,000 with only €70,000, there is underinsurance of 30 percent. In the event of a loss of €20,000, you therefore receive only €14,000. A missing valuation report is often the direct path to this coverage gap. Without a professional appraisal, the value of special items such as art or vintage cars is often underestimated. To avoid this, it is important to insure the vintage car at market value. Thus, proactively documenting the value is not a luxury but a necessity for security.
Your obligations in 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 central duty of the policyholder is the so-called obligation. This includes all contractual duties of cooperation, such as truthfully answering application questions. In the event of a claim, this includes the duty to prove the occurrence and extent of the damage. If you cannot provide evidence of the value of a stolen piece of jewellery, you breach this duty of disclosure. The consequence could be a reduction in benefits or, in the worst case, complete exemption of the insurer from providing benefits. A report created after the damage is legally weaker than one created before the damage. The insurer may question its neutrality and commission a counter-report, which often leads to disputes. An appropriate classic car insurance therefore usually requires an appraisal from the outset. This strengthens the legal position of the policyholder from the very beginning.
After the damage: How to successfully submit an assessment
If the damage has already occurred without an appraisal, swift and strategic action is required. You must now credibly demonstrate the value at the time of the damage. Simply submitting an appraisal you commissioned yourself often isn't enough. The insurer will thoroughly examine the circumstances. To enhance your chances, you should combine several pieces of evidence. Comprehensive documentation is crucial here.
The following documents will strengthen your position:
Original purchase receipts, invoices or certificates.
Photos or videos of the item in your possession before the damage.
Statements from witnesses who can confirm the value or ownership.
Bank or credit card statements that prove the purchase.
A damage and valuation report prepared by a recognised expert.
Our expert tip: Communicate transparently with your insurance company from the start and announce the submission of additional evidence. A cooperative approach can avoid confrontation and speed up the process. Knowing the costs of classic car insurance helps to properly assess the vehicle's value.
Proactive Valuation: An Investment That Pays Off in a Critical Situation
The costs for a preventive appraisal may seem like an unnecessary expense to some. However, a comparison of the potential outcomes in the event of damage presents a different picture. A short appraisal for a classic car often costs only a few hundred euros. In contrast, a lack of verification can lead to a loss of several tens of thousands of euros. Consider an example calculation: A classic car has a market value of 50,000 euros. Without an appraisal, it is generally valued at 25,000 euros in the policy. In the event of theft, this creates a direct gap of 25,000 euros. The cost of an appraisal, about 500 euros, would have prevented this loss. Therefore, the investment in a professional valuation amounts to only one percent of the potential loss. Choosing the right appraisal for classic cars secures coverage for a fraction of the vehicle's value. This preventive measure is the key to full compensation.
Special cases in focus: What's particularly important for classic cars, art and jewellery
Certain valuables are subject to stricter rules because their value cannot be determined on a flat-rate basis. For classic cars, art objects, or high-quality jewellery, a valuation report is often a prerequisite for obtaining comprehensive insurance. Insurers usually require expertise for items valued at over 50,000 euros. Without such a document, it is hardly possible to obtain classic car insurance without an appraisal. There are different types of appraisals that serve various purposes.
Here are the three most important types of appraisals:
Short appraisal: Used purely for value assessment for insurance purposes and costs between 150 and 500 euros.
Comprehensive appraisal: Documents condition, history, and originality in detail, important for very high-value objects.
Appraisal according to § 23 StVZO: Necessary for registration as a historic vehicle (H registration) in Germany.
Our expert tip: Have appraisals for valuables in volatile markets, like art or collectible vehicles, updated every two to three years. This is the only way to ensure that an increase in value is reflected in the insurance coverage and that you are not underinsured. This is an important step when assembling everything necessary for classic car insurance.
Conclusion: Proactive action beats risky waiting
The question of whether you can submit a valuation report to the insurance company afterwards can be answered with a 'Yes, but'. It is legally possible, but associated with significant disadvantages and risks. The burden of proof always lies with the policyholder, and a retrospective report holds a weaker position than one prepared preventively. The best strategy is to have valuable possessions appraised early and professionally. This small investment protects against major financial losses and ensures smooth processing in the event of a claim. Act before it’s too late.
Request an individual risk analysis now: Have your insurance situation checked for free and receive specific optimisation suggestions.
More useful links
Wikipedia offers a general overview on the topic of valuation.
The Consumer Advice Centre provides information as an independent organisation on consumer rights and advice.
The DEKRA provides information on insurance assessments.
The GTÜ offers detailed information on valuation reports, especially for classic cars.
Wikipedia explains the term and significance of reports in general.
Wikipedia provides insights into the principles of real estate appraisal.
Wikipedia specifically sheds light on the valuation of classic cars.
FAQ
Can I submit an appraisal for the insurance later?
Yes, in principle, you can submit a valuation report even after a claim. However, you are then fully responsible for proving the item's value at the time the damage occurred, which is often difficult and can lead to disputes with the insurance company.
What is a breach of duty in connection with a valuation?
A breach of duty occurs if you do not fulfil your contractual obligations. If you cannot prove the value of a damaged or stolen item, you violate your duty of disclosure. This may lead to a reduction or refusal of the insurance benefit.
Why is a proactive valuation better?
An appraisal prepared before the event of damage clearly defines the insured value and prevents underinsurance. It serves as an incontestable basis for compensation, avoiding lengthy evidence procedures and financial losses.
How can I verify 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 account statements. However, for very valuable pieces, this is often not sufficient.
How often should an appraisal for a classic car be updated?
Since the value of vintage cars can fluctuate, it is recommended to update the appraisal every two to three years. This ensures that your insurance coverage keeps pace with the value development.
What does an appraisal cost?
The costs vary depending on the type and scope. A short appraisal for a vintage car can cost between 150 and 500 Euros. A comprehensive appraisal is more expensive. However, these costs are minor compared to the potential loss from an inadequately documented damage.
