Why You Should Have Your Jewelry Appraised

Posted on: 25 January 2019

If you have jewelry that is of great value, then it would be a good idea to make sure that you are taking the time to get it appraised. To help you have a better understanding as to why this is so important, you will want to take a look at the following information.

For Insurance Purposes

In the event of theft, a flood, a fire, or any other disaster, you want to be able to file a claim that will cover the replacement cost of your expensive jewelry. Even if some pieces cannot be replaced with identical pieces, you should still make sure that you are able to get paid for their value. In order to make sure that the insurance company will cover the true value of your jewelry, you will need to have all of it appraised. You will then want to submit a copy of the appraisal to your insurance company so they can keep it with their records.

For Inheritance Purposes

If you want to divide your assets to certain friends or family upon your passing, you may want to get your jewelry appraised. This way, should you only leave your jewelry to one person but a nice vehicle to another, you will be able to show that they are similar in value if that is the case. You might also want the proper documentation for the estate in case they need to liquidate your assets in order to pay off debts, final expenses, or divide the value of everything between your remaining kin. Just make sure that you are getting a copy of the appraisal paperwork to your estate lawyer or keep a copy with your last will and testament so it can be found when the time is right.

Now that you have a much better insight as to why a proper jewelry appraisal is so important, you will want to make sure that you are taking the time to find the best jewelry appraiser in your area. If you are not sure where to go, you may want to take a little time to speak with friends and family who have used jewelry appraisers in the past. You can also conduct an online search and read through some of the reviews that you find. The sooner you get your valuable jewelry appraised, the sooner you will have them covered in the event anything happens to them.