The Benefits of Knowing Your Jewelry’s Worth
Before insuring the contents of your home, it’s common to have the items appraised so you’re aware of their full value. Underestimating their worth can cause you to lose money if the jewelry is lost, stolen or destroyed. The value of gemstones and precious metals fluctuate with time. If your collection is not appraised correctly, you may get far less than your jewelry is worth.
What an Appraisal Offers You
There are many benefits to knowing your jewelry’s worth. Having it appraised by a licensed gemologist ensures that you receive accurate details about your precious jewelry collection. You’ll be able to properly care for, store, and insure your rings, necklaces, earrings, and bracelets.
Jewelry is an investment that often increases in value over time. Knowing how much it is worth in today’s market gives you greater freedom to sell or hand down pieces in your collection. Many rings, necklaces, earrings, and bracelets are purchased with the intent of them becoming heirloom jewelry that can be given to family members over time.
Jewelry is Not Automatically Covered by Insurance Policies
Most homeowner’s policies do not automatically insure jewelry. That is why an appraisal is necessary. When the jewelry is appraised, there are a number of factors that are accounted for.
The content of the precious metals and their weight are factors that affect appraisals. The cut, clarity, color, carat weight, measurements, finish, and proportion of gemstones are other important factors. Some are rarer than others making them worth more.
Consumer Affairs offers up-to-date information about different jewelry insurance companies as well as reviews by customers who have chosen to buy policies through them. When searching for a company to insure your appraised jewelry collection, it’s important to be thorough and research all your possibilities.
You’ll also want to read the fine print on your homeowner’s policy if you choose to insure your jewelry with the other contents of your home. Knowing exactly what is covered helps you determine whether to buy additional policies elsewhere. Having your jewelry appraised for the full amount that it is worth is just one step in the insurance process.
We Offer In-Store and On-Site Appraisal Services to Our Customers
Westwood Jewelers offers in-store appraisal services. We’re also willing to come to you to appraise your jewelry collection. If you feel uncomfortable bringing your precious metals to a public venue, we completely understand. That’s why we offer on-site appraising as a convenience for you. We know how important it is to know your jewelry’s worth. That way you can protect it and insure it with greater ease and accuracy.
Certified reports of your valuables are created. Then you will have proof of the quality, workmanship, and attributes of the metals and gemstones used to create your beautiful rings, necklaces, earrings, and bracelets. If the insurance company that you have a homeowner’s policy with asks for documentation, you’ll be able to provide it instantly.