Jewelry Appraisal For Insurance: Protect Your Precious Pieces

Jewelry Appraisal For Insurance: Protect Your Precious Pieces

Diamond jewelry pieces have an aesthetic charm that can accentuate your look effortlessly. Diamond jewelry pieces are not just beautiful accessories but are a valuable asset too. You must get a jewelry appraisal for insurance to safeguard your investment. 

Jewelry Appraisal For Insurance

A jewelry appraiser can assess the precious piece to determine its accurate market worth. A jewelry appraisal for insurance is the best way to secure the value of your coveted jewelry over time.  

You can go with an online jewelry valuation to get an insurance policy. This value will be used to set the coverage limit. If you do not want to overpay for coverage, it is recommended to get a professional appraisal as without it your jewelry might be overvalued. Also, remember that if your jewelry is undervalued, you might have to bear extra repair costs. 

It is better to have an accurate appraisal at the time of filing a claim. This will ensure you receive what you deserve at the time of claim. Therefore, it is crucial to update your online jewelry valuation every two to three years.       

Prestige Valuations is a leading appraisal company with expertise in various types of appraisals. They have a team of certified appraisers who provide jewelry, watch and handbag appraisal. If you want to know the accurate market value of your precious pieces, you can connect with them on their website.

Understanding Jewelry Insurance

Your valuable jewelry pieces are not just accessories that you bought on different special occasions but they have emotional value too. To secure the value of your coveted items, such as an engagement ring, diamond bracelet or emerald neckpiece, you must get insurance for your jewelry. You never know when you might require it! You might have to face a burglary, loss or damage and a jewelry insurance policy can be helpful to get the proper coverage. 

Below we are mentioning the steps to get an insurance policy:

  1. Jewelry appraisal for insurance: The first step is to get a professional jewelry appraisal for insurance. This will be needed at the time of getting an insurance policy for your jewelry. As jewelry fluctuates with the market's ups and downs, it is important to have an updated appraisal. An outdated appraisal will result in either under coverage or over coverage. In any of these cases, you will be at a loss. Remember this appraisal value will be used to set the premium that you will be paying every year. 
  2. Share More Information: At the time of applying for the coverage, along with the certified appraisal document, you will have to share other information regarding your jewelry pieces and the owner (about yourself).  
  3. Stay Stress-Free: Once you get the insurance policy, you can flaunt your jewelry without any stress. With the insurance policy, your coveted pieces are protected against burglary, loss, natural disaster, damage and worldwide travel (depending on the policy you have).
  4. Hassle Free Claim: In case, something untoward happens, you can file the claim without any hassles. Repair or replacement of your jewelry will be taken care of by your insurance company. You must choose your insurance company wisely.

Homeowners or Dedicated Jewelry Insurance

Are you confused about choosing between homeowners insurance and specialized jewelry insurance? Insuring your coveted jewelry on a homeowners policy may not provide jewelry coverage for all types of risks. Diamond jewelry damage, loss and incidents when traveling might not be covered.   

It is better to go with a specialized jewelry insurance policy. Homeowners coverage limit is mostly low. Homeowners' deductibles are also mostly higher than those for specialized jewelry insurance. So, it is recommended to go with dedicated jewelry insurance as it will cover mostly all types of risks. 

Jewelry appraisal for insurance is the first step towards protecting your precious jewelry. So, it's time to take the first step!       

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