Jewellery Appraisal for Insurance

To have your jewellery insured you need an appraisal. Independent jewellery appraisers record the weight, material, markings, quality and rarity of a gem, and the manufacturing. The appraiser uses this information to determine the current value of your jewellery. That is the value your insurance company will cover. 

Jewellery insurance helps to replace the item if it gets lost, stolen, damaged, or if it disappears. You have two options when it comes to jewellery insurance. You can add it to your current homeowners or renter’s insurance through a rider. Or you can buy specific jewellery insurance. Each option has its pros and cons and it is important to compare plans to make sure it meets your needs. Pay close attention to what they cover and their policies for filing claims.

How Often You Should Get Jewellery Appraisal

It would be nice to only need an appraisal when you first buy a piece. There is a reason it’s important to update appraisals. Jewellery fluctuates in value! The older the appraisal the less accurate the value it lists. This is almost always less than what you should be insuring your jewellery for.

Insurance companies and appraisers recommend updating jewellery appraisals every two to three years.