Insurance valuations

[jackg]

I am slowly restoring the case on a 1924 upright Grotrian Steinweg, the keys need cleaning also, but the action is very good.
My tuner reckons to buy a new piano of equivalent quality would cost £15k. I have seen similar ones on shop web sites for between £3.5 and £6k.

So for insurance purposes how is it to be valued as it is and when fully restored how should it be valued?
My insurer, NFU, advised to insure it now for what I paid for it in Novmber, and when restored to get a valuation from a professional in the trade.

[Barrie Heaton]

Depend if you have new for old - if you do then you should insure it for the replacement of a new one, if you have the old style insurance then you need the second hand price you would pay at a good retailer

A client of mine last year had a big flood and the piano was a wreck it was a 1930 English Vert they had had it for about 10 years, because the insurance says like for like, she got the money for a Kemble Mozart K121 Piano because it was inlayed and the same colour and height

Barrie,