How to Get an Engagement Ring Appraised

An engagement ring is usually a pretty big investment that deserves to be covered under an insurance policy. In order to get insurance coverage for an engagement ring, you will probably have to get the ring appraised. If you would like to know how to go about getting an engagement ring appraised, the following tips can help.

Understand the Appraisal Process

Before you get an engagement ring appraised, you should familiarize yourself with the appraisal process. First of all, you should locate a professional independent jewelry appraiser to complete the appraisal. They have the proper qualifications and will be able to give you an honest and trustworthy appraisal. A professional will also be taken seriously by insurance companies when it comes time to insure the ring. When you meet with the appraiser, they will analyze many aspects of the ring and complete a detailed report. The report will contain information on the ring and list its value. Although values are calculated in a number of ways, the most common value placed upon an engagement ring is the true market value. This is the amount it would cost to replace the ring if it happens to be lost or stolen.

Get the Appraisal

Once you have an understanding of how the appraisal process works, you should then find a qualified individual to appraise your ring. You may have to make an appointment with the appraiser, depending on their schedule and yours. The duration of jewelry appraisals can vary, but plan on setting aside at least half an hour. You will obviously have to take the engagement ring with you to the appointment. The appraiser will thoroughly examine the ring and may take notes during the examination. They will look at things like the style and composition of the ring. They will also grade any diamonds or gemstones that may be in place. After their examination is complete, the appraiser will then make a report based on their findings. The report will likely contain things such as a detailed description, photographs, characteristics of the ring, and its value. Most professional independent jewelry appraisers will also list their credentials and qualifications when they sign and complete the appraisal. After you have your engagement ring appraised, you will be able to obtain insurance coverage for it. Some people also like to get engagement rings appraised prior to purchase, so they know the person selling it is representing the ring appropriately and selling it for a fair price. Some sellers may allow this, others may not.

After the Appraisal

Once your engagement ring has been appraised by a professional, you will have to take the detailed appraisal report to your insurance agent before you can get coverage. Most jewelry can be added to an existing homeowners or renters insurance policy for a relatively small amount. The value of the engagement ring will usually determine how much you pay for insurance coverage.

Now that you know how simple it is to get an engagement ring appraised, you should have no excuse not to do it. An appraisal will not only allow you to obtain insurance coverage for the ring, but give you peace of mind as well.

All Photos Come From Georgian Jewelry

Guest post from Frances Hall. Frances writes for

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