5420 How to Determine the Value of Personal Property

The market value of personal property (except life insurance) shall initially be determined by the use of a reputable trade publication. See also 5410 . If a publication is not available, an estimate shall be obtained from a reputable dealer. If there is a difference of opinion regarding the value of property between the client or the agency as established by either of the above processes, an estimate from a reputable dealer shall be used.

The cost of the estimate, if any, shall be the responsibility of the agency.