Jewelry, Appraisal, Loupe Magnifier

Some may believe appraisals aren’t worth the extra cost, while others simply may not understand the benefits of having an appraisal done. The truth is, most of your jewelry is likely very special to you. An appraisal is the only way to document the value and description of your jewelry should anything ever happen to it.  

Buying a piece of jewelry without having an appraisal done is like purchasing a pre-owned vehicle without a CARFAX certificate. It’s important to have proper documentation on your jewelry, which for many people is amongst their largest purchases, following cars and homes.

Here are 5 reasons we encourage you to have your jewelry appraised:

1. To Ensure the Condition of Your Piece

Performing an appraisal after you’ve purchased a new ring, necklace, bracelet, etc. helps to ensure the piece is in prime condition. If your piece is not evaluated and appraised properly, there is a chance you could experience a loss due to a loose prong or another defect not immediately obvious to someone who isn’t professionally trained. In other words, the appraisal helps ensure you got what you paid for.

2. Appraisals are Affordable

Most jewelers charge anywhere from $75-$125 for an appraisal. When comparing this cost to what you spent on the piece itself, this cost is absolutely justified. You can think of the cost of an appraisal comparable to what you might pay for a warranty on a high ticket item; a little bit of extra expense in this case goes a long way.

3. An Appraisal Helps to Provide an Accurate Replacement  

If your jewelry is ever lost or damaged, an appraisal provides a detailed description of the piece so jewelers can try their best to create a replacement that is as close to the original as possible. Imagine losing your wedding ring, not having proper documentation, and the jeweler telling you there isn’t enough information for them to properly replace the jewelry. The memories and features of your ring would become a thing of the past, which defeats the purpose of the piece overall. With an accurate appraisal, jewelers can usually replace the piece with one that closely resembles the original.

4. Proof of Ownership

A jewelry appraisal substantiates proof of ownership in the event your jewelry is ever stolen and recovered by police. Without proper proof of ownership, it can sometimes be difficult to dispute if the piece was yours to begin with.

5. Adequate Insurance Coverage

A standard homeowners/renters policy typically only covers jewelry if it is stolen, providing a small amount of coverage. If the item is lost or damaged by some other means, there would be no coverage.

If the value of your jewelry is greater than the basic limit provided, you can add the jewelry onto your policy as scheduled personal property. This simply means each item would carry a separate limit of insurance that is based off of your appraisal. With an accurate appraisal, your independent insurance agent can provide you with a competitive insurance quote ensuring the piece is properly covered.

At Rockford Mutual, we typically require an appraisal for items over $10,000 in value. If your item is valued below that amount, at a minimum we require a complete description including the cut, color, carat, and clarity of the piece of jewelry.


We do encourage policyholders to have both new and old jewelry appraised on regular intervals, preferably every two years. The cost of jewelry and its components, such as gold or silver, can fluctuate over time. An up-to-date appraisal helps us to properly insure your jewelry.

Protect all of the items you hold dear, with Homeowners Insurance from Rockford Mutual:

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Blog Contributor Amy Ingram
Amy Casey
Social Media & Communications Coordinator
Amy joined Rockford Mutual in January of 2017 with an Associates Degree in Marketing. Amy has a great understanding of insurance in general as she is currently working towards an Associate in General Insurance designation.