Ring Appraisals
Mark and I went to have our rings appraised and I thought it was good reminder for all those ladies (and gents) out there who have expensive rings.
Here's what we did: (the process may be different depending on insurance company, the type of policy you have and the state you live in).
Anyway, my parents suggested that we look into getting my ring covered under our home owner's policy (duh, i should have thought about that, but with everything going on I completely forgot...which is why im posting this!) The insurance from the jeweler does not cover loosing the ring...it just covered wear and tear (losing stones, broken prongs, etc).
We had an appointment with the insurance agent anyway, so we asked about it. We decided to put a rider on our home owner's policy that will cover our rings (anything over 1000 dollars needs to be covered in a separate policy called a rider). I am not exactly sure how items/jewelery under 1000 works. I think its covered under your regular policy, but I have to check on that.
Anyway, I just thought that it was good idea and definitely worth the 25 dollars to add it to the policy! The appraisals can get pricey, the jeweler wanted to charge me over a 100 dollars and it would take two weeks. I was like, uh no. So i went to my mom's jeweler, they had the appraisal lady (geminologist) there on site to do appraisals. She charged me 85 dollars for my set. Good deal. We didnt have mark's ring appraised because he isnt wearing it yet, so we decided to hold off until after the wedding. In case it wasnt clear, the insurance company usually requires a certified appraisal in order to add an jewelery item to a homeowner's policy. I also got my necklace that my mom designed for me appraised as well.
I think its a good idea for anyone that has an expensive ring set! You never know what might happen and you are covered in case of theft, fire or other "risk" factors that may occur. Usually the only thing the policy doesnt cover is the "acts of God". Its a good idea to get jewelery appraised every couple years as certain pieces increase in value faster than others.
Just a thought! Its definitely something worth checking into.
I wont know how much my ring appraised for...ill find out in a couple weeks.
:-D
Lauren
Here's what we did: (the process may be different depending on insurance company, the type of policy you have and the state you live in).
Anyway, my parents suggested that we look into getting my ring covered under our home owner's policy (duh, i should have thought about that, but with everything going on I completely forgot...which is why im posting this!) The insurance from the jeweler does not cover loosing the ring...it just covered wear and tear (losing stones, broken prongs, etc).
We had an appointment with the insurance agent anyway, so we asked about it. We decided to put a rider on our home owner's policy that will cover our rings (anything over 1000 dollars needs to be covered in a separate policy called a rider). I am not exactly sure how items/jewelery under 1000 works. I think its covered under your regular policy, but I have to check on that.
Anyway, I just thought that it was good idea and definitely worth the 25 dollars to add it to the policy! The appraisals can get pricey, the jeweler wanted to charge me over a 100 dollars and it would take two weeks. I was like, uh no. So i went to my mom's jeweler, they had the appraisal lady (geminologist) there on site to do appraisals. She charged me 85 dollars for my set. Good deal. We didnt have mark's ring appraised because he isnt wearing it yet, so we decided to hold off until after the wedding. In case it wasnt clear, the insurance company usually requires a certified appraisal in order to add an jewelery item to a homeowner's policy. I also got my necklace that my mom designed for me appraised as well.
I think its a good idea for anyone that has an expensive ring set! You never know what might happen and you are covered in case of theft, fire or other "risk" factors that may occur. Usually the only thing the policy doesnt cover is the "acts of God". Its a good idea to get jewelery appraised every couple years as certain pieces increase in value faster than others.
Just a thought! Its definitely something worth checking into.
I wont know how much my ring appraised for...ill find out in a couple weeks.
:-D
Lauren