Standard homeowner and renter policies typically cap jewelry coverage at a low limit and exclude mysterious disappearance. Scheduling valuable pieces with a proper appraisal fixes both gaps.
What an appraisal includes
A quality appraisal documents metal type and weight, stone measurements, quality grades, photographs and a replacement value. It should be signed and dated by a qualified appraiser.
Replacement versus fair market value
Insurance appraisals use retail replacement value. Estate and resale situations use fair market value, which is lower. Tell your appraiser the purpose so the right method is used.
How often to update
Every three to five years, or after significant changes in gold and diamond prices. An outdated appraisal can leave you under-insured.
Reduce your risk
Regular prong maintenance prevents most losses in the first place, and many insurers look favorably on documented inspections.
Schedule an appraisal at our Lakewood workshop.
Written by the bench team at Ivanquero Co., 624 S Cody St, Lakewood, CO 80226. This guide is general information; bring your piece in for advice specific to your jewelry.