Jewellery valuation for insurance (top tips). If wonder how you can get your jewellery valued, we listed the best tips further down in this article.Discover what is jewellery valuation and how you can get your diamond ring valued

Jewellery valuation for insurance - top tips
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Before we proceed to unveil the top tips for jewelry valuation for insurance, let’s answer a few questions related to your valuable assets.

What is a Jewellery valuation?

Jewelry valuation is the process of obtaining information from specialists regarding your jewelry, whether, they are made from precious metals such as gold and silver or rare gemstones such as diamond.

A professional jeweler is able to tell you whether your jewelry is made from precious metals and rare gemstones such as diamonds after inspecting the items closely and running specific tests.

Good to know how to recognize the purity of your gold jewelry

Gold jewelry usually has an inscription hallmark based on the gold purity as follows:

9K gold – 375 hallmark / 14K gold – 585 hallmark / 18K – 850 hallmark / 22K gold – 916 – 917 hallmark / 24K gold – 999 hallmark

22 karat gold jewelry is quite rare because of its soft composition and 24 karat gold is only used for gold bars and investing coins, according to this article.

Wondering how you get a diamond ring valued?

At a local jewelry store or pawn shop, they can tell you the value of your diamond ring within minutes. Is best to ask for a second and third opinion before validating the true value of your item.

Where can you sell your diamond ring for the most money?

To get the maximum value for your diamond ring, you can take it to an auction house, or sell it online or at pawn shops.

Get a certified jewelry valuation document to insure your item accordingly

We know that jewelry sometimes can complete an outfit or make you feel special, particularly if they are gold, silver, and diamond. The risk of losing or having it stolen is real and it can happen to anyone, but as long as you have an insurance policy for your items, there is nothing to worry about.

Jewellery valuation for insurance - top tips

To get the true value of your pieces in case of any untoward incident, it is essential that you have a certified jewellery valuation document. It will ensure that you get the best out of your claim.

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Jewellery Valuation by Experts

These days it is not an easy task to claim insurance money without a little hassle and the reason for that is mainly due to increasing fraudulent cases. Some insurance companies prefer to replace the item, rather than paying you the claiming amount.

In such cases, it becomes very important that you get jewelry valuation for each of your items by a certified valuer. This will save you from a lot of problems later in case of theft or loss.

What documents will a jeweller give you to be able to get an insurance policy for your jewelry?

The document handed by a jeweler will mention the accurate description of each piece of jewelry, including the metal used, types of diamonds, carats, and other gemstones if any. It will specify the condition of the item, along with images of valuable goods.

When you handle this document to your insurance company, you can rest assured to not get cheated. You will for sure get the best worth possible and because of the certified document, the process too would become hassle-free.

Gold price will always rise, therefore, dealing with a reputable insurance company that will assess your jewelry at the market price is vital. This is the reason why experts recommend getting a jewelry valuation for an insurance done every few years.

Who wants to be underinsured and get lesser value than the actual worth of their collection? The answer to this question is no one. But the insurance company would be more than happy to pay you in cash or cheque if the amount is less than the actual value. So, now you can understand the importance of valuation.

Jewelry in divorce settlement too must get valued to ensure amicable settlement.

Are your jewelry insured? Find out how you can buy an insurance policy for your diamond ring and jewelries

Read the policy properly

Check your insurance policy and don’t miss out on any word. Will your policy cover your jewelry when you are out of your home or when you are abroad?

What about repairing costs? All these details must be clearly stated in the insurance policy. Read everything carefully and ask questions if something is missing out.

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