Or did you just use the appraisal quote the jeweler gave you to get the ring insured?
Not sure what the advantage of having it independently appraised is if you're confident your ring is good quality and have the certification for it
Blu-ize
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Re: Ring Appraisal
I would always get it appraised by an unbiased appraiser. Of course the jeweler you bought it from will make the appraisal look good.
I used Jewelry Judge in Mineola.
july06bride
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Re: Ring Appraisal
the jeweler gave us the appraisal- we got the ring from a dealer not a store--- he was in manhattan, and the insurance company needed different information and we didnt go back to NYC we live in CT so we went to a jeweler in CT that was reputable, but we also wanted an unbiased opinion
stephanief
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Re: Ring Appraisal
I actually went to have it independently appraised. The appraiser looked at the appraisal that I got from the seller (after viewing my ring very closely for over 15 minutes) and told me the appraisal was 'spot on' - (hells kitchen, anyone?) So he didn't charge me and I used the original appraisal from the seller for insurance purposes
jeanla4c
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Re: Ring Appraisal
Our insurance needed an independent appraisal, plus it was appraised much higher than cost!
jilmadison
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Re: Ring Appraisal
I think it is important to get it appraised right away from another jewelry.
Soon2BMrsA
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Re: Ring Appraisal
Does that mean that the GIA/EGL certification may not be accurate? or do insurance companies not take that into account anyway?
Beth1210
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Re: Ring Appraisal
Posted by jeanla4c
Our insurance needed an independent appraisal, plus it was appraised much higher than cost!
I heard that you really don't want that for the insurance- b/c your preiums will be higher
I was told insure mine for what we paid - even though it apparises for double- b/c I would just go back and get it replaced from the same jeweler
exotica776
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Re: Ring Appraisal
Posted by Beth1210
Posted by jeanla4c
Our insurance needed an independent appraisal, plus it was appraised much higher than cost!
I heard that you really don't want that for the insurance- b/c your preiums will be higher
I was told insure mine for what we paid - even though it apparises for double- b/c I would just go back and get it replaced from the same jeweler
with us it was great that it was appraised much higher, yes we might be paying a higher premium, but God forbid its lost, chubb writes you a check for the appraised amount
IrishBride-05
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Re: Ring Appraisal
Posted by exotica776
Posted by Beth1210
Posted by jeanla4c
Our insurance needed an independent appraisal, plus it was appraised much higher than cost!
I heard that you really don't want that for the insurance- b/c your preiums will be higher
I was told insure mine for what we paid - even though it apparises for double- b/c I would just go back and get it replaced from the same jeweler
with us it was great that it was appraised much higher, yes we might be paying a higher premium, but God forbid its lost, chubb writes you a check for the appraised amount
We're insuring it for the full, appraised value with Chubb too.
103005FallBride
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Re: Ring Appraisal
Definitely insure your ring for the full appraised value!
stephanief
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Re: Ring Appraisal
The insurance on the ring is so minimal....like 1% of the appraised value per year, i got it insured for the full appraised value
Beth1210
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Re: Ring Appraisal
I need to use that instead - I put a rider on my renters insurance at it's $30 a month- a lot more then the 1% of the aprasied value
can someone FM this Cubb info- I am going to switch
but no wonder he talked me out of insuraning for the more then we paid- it would have been $60 a month!
Mrs. dleeny
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Re: Ring Appraisal
we had the e-ring independently appraised.
if you get an appraisal from the jeweler you bought the ring from, most likely it will biased.
it's not a bad a idea to have someone else appraise it. Make sure whoever you go to is GIA certified
IrishBride-05
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Re: Ring Appraisal
I got the insurance with Chubb through my insurance company - Travelers. It's more than 1% of the appraised value in my case, more like 2.5%.
tara51799
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Re: Ring Appraisal
I went to Jewelery Judge in Garden City by the mall. He is an independent appraiser and he appraised it for a little higher than the actual Jeweler we bought it from, which was about 4,000 more then FH paid for it. Then we went through Jeweler's Mutual to insure it for the appraised value and they supposedly pay you the appraised value if anything ever happens to it!
MrsD06
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Re: Ring Appraisal
we also used Jewelry Judge and were appraised higher..hmm! Actually, I know for a fact that he is very reputable, otherwise this would make me nervous! when we got my ring appraised we found out it is GIA certified, the store where it was bought never mentioned this and it increased the value a bit.
