Tips from Jewelers Mutual: Ring Appraisal—What You Need to Know for Insurance

Jeweler looking at the ring through microscope in a workshop.

When it comes to receiving a ring—whether you are newly engaged, celebrating a birthday, toasting an anniversary, or treasuring an heirloom—you’re probably not thinking about insurance.

When you procure something so precious, for peace of mind, you should consider protecting it. An important step to insuring your ring is to have it appraised.

In the following article, Jewelers Mutual Insurance Company covers the most common misconceptions of ring appraisal, tips for getting a good appraisal, and why they are so important. Click here to read more.

Tips from Jewelers Mutual: End-of-Summer Jewelry To-Do List

Sunscreen, chlorine, and travel are the quintessential elements of summer that put fine jewelry at risk. But now that the sun is setting on summer, it’s time to give your precious gems and metals some extra attention.

Learn more in this blog by Jewelers Mutual Insurance Company, 5 End-of-Summer Jewelry Care Tips to Keep Your Sparklers Shining.

Tips from Jewelers Mutual: When Not to Wear Your Wedding Ring This Summer

We love summer! The season tempts us to let those gorgeous gemstones sparkle in the sunshine, and it’s especially an attractive way to dress up bare skin. But don’t forget that the harsh chemicals in much-needed sunscreen, and the chlorine in the refreshing pool, are harmful to fine jewelry. While you’re having fun in the sun, you run the risk of ruining your jewelry—or even worse, losing it!

Jewelers Mutual Insurance Company offers the following tips on how to keep your jewelry safe during this active season. Learn more by reading their blog, When Not to Wear Your Wedding Ring This Summer.

The Benefits of Jewelry Appraisals

By Phillip Bosen, CGA and Director of Business Development at Von Bargen’s Jewelry

A critical step in protecting and preserving the value of your jewelry is getting an updated appraisal on a regular basis. In fact, if the most recent appraisal of your jewelry took place five or more years ago, it’s time to get a new appraisal.

You may be asking what a jewelry appraisal does for you. The obvious answer is that an appraisal sets a value for your jewelry. And with today’s roller-coaster values for gold, platinum, silver and gemstones, knowing what your jewelry is worth can save you heartache later if your jewelry is lost or stolen.

The appraisal provides basic information most insurance carriers need to offer coverage for your jewelry. The updated value, along with the detailed description provided by an appraisal, will help smooth your settlement process if you were to suffer a loss.

Another appraisal benefit is having an updated assessment of your jewelry’s condition. Over time, prongs, clasps, settings and even stones can become loose or damaged. The review of your jewelry by a professional can help mitigate a possible loss by drawing to your attention any minor damage so an item can be repaired.

Now that I’ve convinced you to get an appraisal, who should you go to and what should it contain? The first choice for your appraisal should be a jeweler you trust. They should have the credentials necessary to do an appraisal, such as a Certified Gemologist Appraiser (CGA) from the American Gem Society, and/or be a member of one of the appraisal societies that dictate ethical appraisal practices. You may already have a grading report from AGS or another lab. These reports are used to verify the quality and authenticity of gemstones or diamonds, but do not establish value.

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Your jewelry appraisal should contain:

  • Your name and address
  • Type of jewelry
  • What is the jewelry item made of?
  • What type of gemstones are used?
  • How are the stones graded?
  • How is it designed or fashioned?
  • Condition of the item being appraised
  • Color photograph
  • Current precious metal values
  • Manufacturer, origin, or designer
  • Purpose of the appraisal (example: for insurance purposes)
  • Credentials of the appraiser
  • Signed and dated by the appraiser

Phillip Bosen is the Director of Business Development at Von Bargen’s Jewelry and the only Certified Gemologist Appraiser in Vermont.

To find a CGA or ICGA in your area, click here.

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