Insurance companies never take your word for value
Whether you’ve spent years building your fine jewelry collection or you’ve recently acquired your first exquisite piece, you should insure each item to value, just in case the unexpected happens. To do that properly, you must have your jewelry appraised for insurance purposes.
Even if you’ve had the same insurance agent for years, that relationship will only take you so far. Your agent might trust you when you tell him the value of your newest jewelry piece, but the insurance company underwriters will want more. Before an underwriter finalizes the jewelry schedule on your Valuable Items Policy or your Homeowners Policy jewelry floater, he will insist on a written appraisal from a reputable source.
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.
If you’re looking for a Denver jewelry appraisal for your engagement ring for insurance, contact Colorado Gem Labs. I specialize in diamond jewelry, ring appraisal, estate appraisal, and am an independent jewelry appraiser. I am a graduate gemologist trained at GIA and can appraise your rings, earrings, bracelets, necklaces, and watches for replacement value.
