Insurance Replacement
Appraisal
The
most important reason for having your jewerly appraised is for
insurance replacement value in case of loss. An
apprasial provides you with protection for proper
reimbursement. If you lose your jewelry, you have document
describing your item in exact and extensive detail- stone
measurements, clarity, and color - quality and value of the
item. With this information, you can get the original item
replaced with a similar one.
Diamonds and gemstones of the same size can range
drastically in
value according to their specific qualities and
characteristics. Therefore, you are protected and assured that
the replacement is on par with the lost item.
Most insurance companies request an appraisal for items
above a certain value, for their homeowner’s policy. The
appraisal validates their existence and condition, and
determines proper coverage and premiums for the policy.
Depending on how the policy is written, these appraisals are
then consulted at the time of loss, theft or damage, to assist
in replacement. The jewelry replacement value reflects the
price that the client would most likely pay for one of the
same or similar description on the date of the
appraisal.
