If you own fine jewelry, periodically having it appraised can provide a number of benefits. Jewelry appraisals are easy to obtain and can help you protect your investment in your jewelry.
Most insurance carriers will require an appraisal before they will ensure your jewelry. That way, they will know for sure how much to reimburse you if it is lost or stolen. Without an appraisal, they may not be willing to pay out on your claim if you do wind up having your jewelry stolen. Because of that, it is important to have a current appraisal on record for any high-dollar pieces of jewelry that you own.
Knowing how much your jewelry is worth can also keep you from over or under insuring it. If you take out an insurance policy specifically for your jewelry, you need to make sure that it offers adequate coverage. At the same time, however, you don’t want to pay for more insurance than you need. By getting your jewelry appraised, you can find out for certain just how much insurance you should purchase. As a result, you can keep your insurance costs down while at the same time ensuring that your jewelry is properly covered.
Another benefit of regular jewelry appraisals is that they can help you spot changes in the overall condition of your jewelry. If your jewelry starts to show signs of wear and tear, its appraised value will decline. If you notice that the appraisals on a particular piece of jewelry are getting lower and lower, you may need to take it to a specialist to have it cleaned up or repaired. This can allow you to be proactive about staying on top of maintenance for your jewelry, helping it to last even longer so that it maintains its value.
Any time that you get your jewelry appraised, make sure to get the appraisal in writing. It should contain your name and address, the type of jewelry that is being appraised, the overall materials that make up the jewelry, the quality of these materials, and any other pertinent information regarding its value. Having an appraisal certificate on hand from a qualified organization or appraiser is the best way to protect your jewelry. Not only can an appraisal allow you to obtain insurance for any high-value jewelry that you own, but it can also help you keep tabs on the overall value of your jewelry collection.