All diamonds and jewelry pieces have value and many individuals choose to protect that value with insurance coverage. Diamonds unfortunately are extremely small – this makes them vulnerable to being lost, stolen, or dislodged from their settings. In this event, insurance may cover the diamond’s replacement. In order for the insurance company to know the amount of which to delegate towards the replacement costs of the diamond, they need to have an appraisal on file. A jewelry appraisal is simply an evaluation of a piece of jewelry in order to allot a replacement value. This amount is a slightly inflated retail value, and should cover the replacement cost of a piece.
Only trained appraisers who have Gemological degrees should complete jewelry appraisals. This is because gemstones need to be properly identified and graded in order to accurately value them. It is important to ask questions about your appraiser’s qualifications to ensure that it is being written appropriately. This is a specialized service that MJ Gabel is proud to provide their clients.
We pride ourselves in only having our Graduate Gemologists write appraisal paperwork in order to provide a complete and accurate evaluation and assessment of value. If you need a diamond insurance appraisal in Rochester, Ontario, Upstate New York, or anywhere in the US, contact MJ Gabel today!
Appraisals performed by MJ Gabel cost: $50 – $75