Can I even buy jewelry insurance if my jewelry isn’t appraised?
Technically speaking, yes. Most insurers will let you insure through them by providing them only an estimate of your jewelry value. The catch is, to file a claim you DO NEED AN APPRAISAL. This is presumably the whole reason you are getting jewelry insurance, so by not getting the appraisal you’ve made the claims process far more difficult, and in some cases, your claim may even be denied.
What happens if I file a claim on my jewelry but I didn’t have an appraisal
When you file a jewelry insurance claim and you don’t have an appraisal, it can make it more difficult to establish the value of the item and the amount of the claim. An appraisal is a professional evaluation of a piece of jewelry that includes a detailed description of the item, its condition, and an estimate of its value. Without an appraisal, the insurance company may have to rely on other methods to determine the value of the item, such as a comparison to similar items in the market, or a professional jewelry appraiser’s evaluation.
In the case of not having an appraisal, the insurance company may require that you provide additional documentation such as receipts, photographs, or other proof of ownership to establish the value of the item. This process can take longer, and there is a chance that the insurance company may offer a lower settlement amount than what you would have received if you had an appraisal.
In some cases, it may be difficult to file a jewelry insurance claim if you don’t have an appraisal. Insurance companies may require that you have an appraisal before they will cover a jewelry item. This is because jewelry is often unique, and it can be difficult to establish the value of an item without an appraisal.
Conclusion — Get an appraisal ASAP!
In summary, having an appraisal for your jewelry item is important if you want to ensure that you receive a fair settlement from your insurance company in case of loss or damage. Without an appraisal, it can be difficult to establish the value of the item, and the insurance company may offer a lower settlement amount or may not cover the item at all.
Need guidance on where to get an appraisal? Check out our article: “Where do I get a jewelry appraisal for insurance?“