Appraisals are important to the insurance process

You’d probably prefer not to think about your jewelry treasures being damaged, destroyed or lost during a catastrophe, but it’s prudent to be prepared with a detailed jewelry appraisal.

If you have a sentimental attachment to your most cherished jewelry pieces, you’ll love them no matter what they’re worth. Still determining a value is important, especially when you’re purchasing insurance.

  • You need to know if your Homeowners Policy jewelry limit will cover them, or if you need a valuable items endorsement or a separate policy.
  • If you need a special endorsement or policy, underwriters will base your coverage amount on the appraised value of your jewelry.
  • Your insurance premium will be based on that same value.

A good rule of thumb in choosing a diamond jewelry appraiser is if you don’t know where to go to get jewelry appraised…read your local jewelry appraiser reviews. If you only choose one item, a diamond ring appraisal would probably be your best choice.  Also, if your purpose is to sell diamond jewelry, a current jewelry appraisal will help you decide a better selling price.