Get Jiso 78 - Jewelry Insurance Standards Organization

The appraisal tells your insurance company how much your jewelry is worth. If your jewelry is stolen or damaged, your insurance company can pay you the current value to repair or replace your valuables, minus your deductible, of course. It's easy to say the jewelry you got online is priceless.

In the jewelry industry, it's standard for appraisals to be inflated, usually at 100% above the retail value. In other words, the appraisal doesn't represent the true value of the diamond ring.

Since the value of gemstones, metals and diamonds change so much, it is important to stay on top of this with routine appraisals to understand and claim the accurate value of your jewelry. To do this, most appraisers recommend updating your jewelry appraisal every 2 – 3 years.

Insurance Values This value is typically 10% more than retail value. The reason being if the antique is ruined or stolen, read my tips to prevent property theft, you will need the retail value plus additional monies for appreciation in value and for your time to find another similar item.

A jewelry appraisal can cost anywhere from $50 to $150, depending on the appraiser. In general, the average price of a jewelry appraisal is $75-$100. Some jewelry appraisers charge a flat rate per piece, while others will discount if you have numerous items of jewelry all needing to be appraised at once.

We recommend taking the piece to a jeweler to be tested. They will have professional tests that will determine whether your jewelry is real as well as the purity of the metal itself. A certified appraiser will be able to provide the value of the piece as well.

To have your jewelry insured you need an appraisal. Independent jewelry appraisers record the weight, material, markings, quality and rarity of a gem, and the manufacturing. The appraiser uses this information to determine the current value of your jewelry. That is the value your insurance company will cover.

A standalone jewelry policy will cover the value of the piece no matter if it's lost, stolen, or damaged. Borrowed Jewelry—If you borrow jewelry from friends or family, your policy may provide coverage if you experience a loss while it's in your possession.