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Jewelry Appraisals for Insurance: The What, Why, and How Often

You did it! You found the perfect engagement ring. Now you find out you have to have your jewelry appraised! But is a jewelry appraisal necessary? 

When you buy a car you add it to your insurance. Your jewelry needs the same level of protection. After all, jewelry is a significant investment that gets worn every single day. You want to protect it.

Getting jewelry appraised for insurance purposes is important. Imagine your diamond engagement ring taking a spin in the garbage disposal. That would be heartbreaking! But when you have the proper jewelry insurance it hurts less. If you don’t have jewelry insurance and your piece gets lost, stolen or damaged then you’re out of luck. But with jewelry insurance, you’re covered for that loss. 

How often should you appraise your jewelry? What does a jewelry appraisal cost?

Jewelry Appraisal for Insurance

To have your jewelry insured you need an appraisal. Independent jewelry appraisers record the weight, material, markings, quality and rarity of a gem, and the manufacturing. The appraiser uses this information to determine the current value of your jewelry. That is the value your insurance company will cover. 

Jewelry insurance helps to replace the item if it gets lost, stolen, damaged, or if it disappears. You have two options when it comes to jewelry insurance. You can add it to your current homeowners or renter’s insurance through a rider. Or you can buy specific jewelry insurance. Each option has its pros and cons and it is important to compare plans to make sure it meets your needs. Pay close attention to what they cover and their policies for filing claims.

How Often You Should Get Jewelry Appraised


It would be nice to only need an appraisal when you first buy a piece. There is a reason it’s important to update appraisals. Jewelry fluctuates in value! The older the appraisal the less accurate the value it lists. This is almost always less than what you should be insuring your jewelry for.

Insurance companies and appraisers recommend updating jewelry appraisals every two to three years.

Jewelry Appraisal for Insurance Cost

How much does jewelry appraisal cost? 

Each independent jewelry appraiser determines the price they charge. It ranges between $50 – $150 depending on experience of the appraiser and location. 

Nelson Coleman Jewelers appraisal costs are:

  • $95 for the first item
  • $85 for each additional item 
  • $60 to update a recently Nelson Coleman appraisal
  • Complex and unique items are quoted after inspected.

Prices are subject to change. 

How much does jewelry insurance cost?

According to Jewelers Mutual, the cost of jewelry insurance should be 1-2% of the jewelry’s value. Check your jewelry insurance rate on their website.

Contact Us to Get a Jewelry Appraisal

Need a jewelry appraisal or have questions? Contact Nelson Coleman Jewelers today, or stop by to visit us at our Towson location!

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