ring appraisal tips
Many couples aren't aware that they can insure valuables like engagement rings. Insurance might not be the first thing that comes to your mind when you look at your engagement ring or wedding band, but insuring your ring is a very sensible way to protect this meaningful piece of jewelry.
If you already own a renters or homeowners policy, you need to add an endorsement to your policy to insure your ring up to its replacement value. An endorsement is a simple way to add coverage and can cost little for the protection it provides.
Before purchasing insurance, you'll need to get the ring appraised. The appraiser should be a Graduate Gemologist (G.G. degree) from the Gemological Institute of America or an F.G.A. (Fellow of the Gemological Association of Great Britain), or be certified by the American Gem Society or the American Society of Appraisers.
You should walk away from the appraisal with the:
Millimeter dimensions, quality, weight and identification of each stone
Cut, color, clarity and weight of the diamonds
Hue, tone, intensity, transparency and clarity of colored stones
Identification and assessment of metals used in mounting
Thorough description or photograph of the item
Estimated value of the piece
While the appraisal fee may be based on either an hourly rate or per carat for diamonds, the fees should be clearly indicated before the appraisal.
Take these few extra precautions to ensure the safety of your ring:
Take photos of all your jewelry and store them in a fireproof box.
Obtain a GIA grading report, which is issued when the stone is finished by the diamond polisher. The report describes the characteristics of your unmounted diamond, though it doesn't evaluate price.
Get a Gemprint, a special laser image that's like a 'fingerprint' of your stone. A copy will be registered with the Gemprint central registry. The process is short and usually costs less than $50. Some insurance companies even offer a 10 percent discount on annual premiums for Gemprinted diamonds.
Don't wait any longer to insure your ring. It's a relatively simple process that will give you protection and peace of mind necessary for reducing your pre-wedding stress load. Tomorrow I'll talk about how to avoid stress by communicating effectively with your wedding vendors.
lifeserve.com
If you already own a renters or homeowners policy, you need to add an endorsement to your policy to insure your ring up to its replacement value. An endorsement is a simple way to add coverage and can cost little for the protection it provides.
Before purchasing insurance, you'll need to get the ring appraised. The appraiser should be a Graduate Gemologist (G.G. degree) from the Gemological Institute of America or an F.G.A. (Fellow of the Gemological Association of Great Britain), or be certified by the American Gem Society or the American Society of Appraisers.
You should walk away from the appraisal with the:
Millimeter dimensions, quality, weight and identification of each stone
Cut, color, clarity and weight of the diamonds
Hue, tone, intensity, transparency and clarity of colored stones
Identification and assessment of metals used in mounting
Thorough description or photograph of the item
Estimated value of the piece
While the appraisal fee may be based on either an hourly rate or per carat for diamonds, the fees should be clearly indicated before the appraisal.
Take these few extra precautions to ensure the safety of your ring:
Take photos of all your jewelry and store them in a fireproof box.
Obtain a GIA grading report, which is issued when the stone is finished by the diamond polisher. The report describes the characteristics of your unmounted diamond, though it doesn't evaluate price.
Get a Gemprint, a special laser image that's like a 'fingerprint' of your stone. A copy will be registered with the Gemprint central registry. The process is short and usually costs less than $50. Some insurance companies even offer a 10 percent discount on annual premiums for Gemprinted diamonds.
Don't wait any longer to insure your ring. It's a relatively simple process that will give you protection and peace of mind necessary for reducing your pre-wedding stress load. Tomorrow I'll talk about how to avoid stress by communicating effectively with your wedding vendors.
lifeserve.com
