The cost of jewelry insurance can vary from 1.5% down to 1% of the value of the appraised piece of jewelry or watch. The higher the deductable the lower the percentage charged per $100.00. As an example, if you choose a $500.00 deductable on a diamond ring appraisal insured for $10,000.00, the premium would be approximately $100.00 per year. Certainly this can vary a little depending on the insurance company, but jewelry insurance is very reasonable for the protection it offers. An accurate jewelry appraisal is very important in that it not only describes the piece in detail, but a qualified appraiser knows how to value the jewelry so you don’t over insure your jewelry and wind up paying higher premiums year after year.
If you don’t know where to go to get jewelry appraised…read your local jewelry appraiser reviews. Also, if your purpose is to sell diamond jewelry, a current jewelry appraisal will help you decide a better selling price.