An appraisal is a detailed description of a piece and an assessment of its value based on market research. Insurance providers usually require appraisals for jewelry and gem riders. For each piece, appraisals will give replacement value.
who should do the appraisal?
Jewelry appraisals require exact gemological information, you should find a certified graduate gemologist. Determining whether a gemstone is natural or synthetic is not always easy, even for experienced professionals with the appropriate equipment.
how often should you appraise?
It’s advisable to have appraisals done every three years. Factors that can affect the fair market value of your jewelry (such as the price of gems and metals) change over time. A current appraisal can ensure your coverage is adequate for replacing your piece and your premiums are fairly priced.