You probably would not think about your precious jewelry being stolen, damaged, or lost. But it always makes sense to be prudent since jewelry damages are unexpected. Getting your jewels insured from a reliable source holds a critical advantage. It would help if you got it certified whether you had bought it recently to cover it under protection. To do so correctly, jewelry appraisal for insurance is needed. You should know these seven things before getting your jewels insured.
An integral part of jewelry insurance
You would undoubtedly love jewelry that cherishes your moments. So, regardless of its value, you would prefer to get it insured. During the jewelry appraisal process, you would know if your homeowner's policy will cover the existing jewelry value. It also makes clear whether you need to have a separate policy for valuable pieces of ornaments. The premium of the policy will be determined through the appraised value of the jewels.
A general insurance policy may need to cover your ornaments' value adequately. So, there is a need to focus on specific jewelry insurance after getting it appraised. The appraisal process will schedule each item of jewelry in the insurance policy. Hence, it offers broad-spectrum coverage to each item listed in the policy. You will get coverage on the accidental loss of a ring, or the company will pay forits replacement due to damage.
The appraisal value is legitimate.
At the time of claim filing, the insurance company would consider legal measures of jewelry value. So, you would only get a claim based on sales receipts. It will not indicate the actual value of the jewels you have bought. Therefore, jewelry appraisal for insurance is crucial as the company will rely on its value, not the cost.
Inevitably, the value of jewelry constantly fluctuates with time. The market value of diamonds, metals, and jewels could increase or decrease. So, the current market value of jewelry could fluctuate. Also, vintage and antique jewelry pieces can lose their market value due to the end of fashion. Hence, the insurance policy will also vary with the change in value. So, it should be appraised based on current market value.
Solid proof of value
What if you can't prove your jewelry is lost or stolen? You will only receive a check for the claim filed after some time. They will verify if your claim is valid or not. Soappraisal could be solid proof for the valuation of your jewelry. This dated document can have a valuation for each item listed's actual cost and value.
Getting a jewelry appraisal is affordable as you can get it at a meager price than the actual cost. Most appraisal charges vary between 75 and 125 dollars. So, why should you miss the protection of your jewelry when it comes in handy and affordably?
Proof of ownership
The appraisal will be valuable proof of ownership if it is stolen and recovered by police. You might find proving if the jewelry belongs to you challenging without an appraisal.
To sum up
You can see many reasons to get jewelry appraisal for insurance. So now, if you are going to buy jewelry or has recently bought it, get it appraised first. You can consult your jeweler to appraise the valuable items you have acquired. Getting your jewelry insured will evade the stress of protecting it from unfavorable instances. You can get it appraised at fair prices as per the actual cost of jewelry.