Evaluation and your jewelry insurance | engagement jewelry
I've seen time and time again. Customers come to have estimates or appraisals made jewelry alwadifa stolen, or damaged them. They ask if assessment alwadifa can be done without seeing the jewelry or if it can be done based on their recollection of what it used to look like. Unfortunately insurance companies will not accept this form of assessment or evaluation, and certainly not after the fact. In the following article I will explain what to do in order to properly assess and ensure your jewelry.
Insurance companies require that your jewelry policy be based on official and creditable appraisals done by a reputable jeweler. Jewelers who have studied or been train by the Gemological Institute of America (GIA) will provide the most acceptable alwadifa valuations.
Be trained by GIA ensures a conservative grading analysis and correct evaluation of jewelry's worth. Most insurance companies do not need to have your jewelry appraised by GIA graduates however, it is always better to have one done by someone with these credentials.
Your evaluation should include information alwadifa about the content of precious metal including the weight is, karat purity, and color. The diamonds and gemstones should alwadifa be described in terms of shape, carat weight, color, clarity and cut grade.
If diamonds alwadifa are pre-certified by a grading laboratory then you should give a copy of the certification of the appraiser and ask them to list this information on the assessment. If possible have the appraiser photograph the items and attach this photo to submit to assessment by the insurance alwadifa company. alwadifa Always keep a copy safe deposit box or fire proof. You can learn more about insuring your jewelry certified diamonds.
Jewelry appraisals should be reassessed every year 10/07 to determine if the value of the items is appreciated. alwadifa Jewelry is a commodity and like all products are subject to fluctuations in value. alwadifa In recent years the value of diamonds some actually doubled in price due to failures in the market for high demand shapes alwadifa and sizes. A loss after such gain in value without proper reassessments will result in coverage gaps in your jewelry when trying to replace the item.
The biggest mistake consumers' make is assuming that their homeowners insurance will cover them in case of loss. This can be further from truth. The typical homeowners insurance only allows $ 1,500 - $ 5,000 personal items with a deductible $ 500 - $ 1500. Along with this is the fact that some homeowners insurance policies do not allow for item loss, damage, or loss of a diamond setting. The best way to insure your jewelry is to get personal policy written by your agent. This policy alwadifa should include loss of item, item theft, damage, and loss of gemstones and diamonds. Ask your insurance agent to quote the policy with no deductible and coverage above. The going rate for jewelry alwadifa insurance is $ 1.50 - $ 1.85 per hundred and if you quote higher then your probably paying too much. To calculate the annual premium take the appraised value of the jewelry and multiply it by the rate and then divide by 100. Example (appraised value $ 10,000 X $ 1.50 = $ 15,000 Divide by 100 = $ 150 per year).
Some local insurance agents are not familiar with jewelry insurance policy and you feel like you're not getting the proper assistance. There are a couple of insurance companies that provide superior service alwadifa jewelry and if your agent fails to provide alwadifa the proper assistance I recommend you give them a call. The two I like most are CHUBB Insurance and Jewelers Mutual. These companies specialize in personal politics and generally have the lowest rates with the best coverage.
Insurance is one of those things that you think about until you really need. I will say though that jewelry alwadifa insurance policy makes a lot of sense. Suppose you have a wedding set worth $ 5,000 to wear every day. How often walk around the $ 5000 cash in your pocket? Almost never right? Well is some cases you walk around the jewelry alwadifa equivalent all the time. If you have valuable jewelry you wear everyday then you definitely increase your chances of having an unfortunate loss. Jewelry valued alwadifa at $ 5,000 can cost as little as $ 75 per year to insure. It is worth every penny that j
I've seen time and time again. Customers come to have estimates or appraisals made jewelry alwadifa stolen, or damaged them. They ask if assessment alwadifa can be done without seeing the jewelry or if it can be done based on their recollection of what it used to look like. Unfortunately insurance companies will not accept this form of assessment or evaluation, and certainly not after the fact. In the following article I will explain what to do in order to properly assess and ensure your jewelry.
Insurance companies require that your jewelry policy be based on official and creditable appraisals done by a reputable jeweler. Jewelers who have studied or been train by the Gemological Institute of America (GIA) will provide the most acceptable alwadifa valuations.
Be trained by GIA ensures a conservative grading analysis and correct evaluation of jewelry's worth. Most insurance companies do not need to have your jewelry appraised by GIA graduates however, it is always better to have one done by someone with these credentials.
Your evaluation should include information alwadifa about the content of precious metal including the weight is, karat purity, and color. The diamonds and gemstones should alwadifa be described in terms of shape, carat weight, color, clarity and cut grade.
If diamonds alwadifa are pre-certified by a grading laboratory then you should give a copy of the certification of the appraiser and ask them to list this information on the assessment. If possible have the appraiser photograph the items and attach this photo to submit to assessment by the insurance alwadifa company. alwadifa Always keep a copy safe deposit box or fire proof. You can learn more about insuring your jewelry certified diamonds.
Jewelry appraisals should be reassessed every year 10/07 to determine if the value of the items is appreciated. alwadifa Jewelry is a commodity and like all products are subject to fluctuations in value. alwadifa In recent years the value of diamonds some actually doubled in price due to failures in the market for high demand shapes alwadifa and sizes. A loss after such gain in value without proper reassessments will result in coverage gaps in your jewelry when trying to replace the item.
The biggest mistake consumers' make is assuming that their homeowners insurance will cover them in case of loss. This can be further from truth. The typical homeowners insurance only allows $ 1,500 - $ 5,000 personal items with a deductible $ 500 - $ 1500. Along with this is the fact that some homeowners insurance policies do not allow for item loss, damage, or loss of a diamond setting. The best way to insure your jewelry is to get personal policy written by your agent. This policy alwadifa should include loss of item, item theft, damage, and loss of gemstones and diamonds. Ask your insurance agent to quote the policy with no deductible and coverage above. The going rate for jewelry alwadifa insurance is $ 1.50 - $ 1.85 per hundred and if you quote higher then your probably paying too much. To calculate the annual premium take the appraised value of the jewelry and multiply it by the rate and then divide by 100. Example (appraised value $ 10,000 X $ 1.50 = $ 15,000 Divide by 100 = $ 150 per year).
Some local insurance agents are not familiar with jewelry insurance policy and you feel like you're not getting the proper assistance. There are a couple of insurance companies that provide superior service alwadifa jewelry and if your agent fails to provide alwadifa the proper assistance I recommend you give them a call. The two I like most are CHUBB Insurance and Jewelers Mutual. These companies specialize in personal politics and generally have the lowest rates with the best coverage.
Insurance is one of those things that you think about until you really need. I will say though that jewelry alwadifa insurance policy makes a lot of sense. Suppose you have a wedding set worth $ 5,000 to wear every day. How often walk around the $ 5000 cash in your pocket? Almost never right? Well is some cases you walk around the jewelry alwadifa equivalent all the time. If you have valuable jewelry you wear everyday then you definitely increase your chances of having an unfortunate loss. Jewelry valued alwadifa at $ 5,000 can cost as little as $ 75 per year to insure. It is worth every penny that j
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