Should I insure my engagement ring and jewelry?

Posted on Saturday, February 4th, 2017 at 12:58 pm by Debbie

We recommend insurance for all of your valuable jewelry, including your engagement ring. In addition to your engagement ring, consider insuring:

Diamond Tennis Bracelet with Safety ClaspEarrings – They can come out when you pull a sweater off over your head, or flip your hair
Bracelets – Clasps weaken and fail over time. A safety chain or figure 8 (pictured) will give added protection. Have bracelet clasps checked by your jeweler every six months based on daily wear.

New Jewelry Appraisals

Some insurance companies require an appraisal, but some will also accept a recent receipt as evidence of the current value of the jewelry. If one or two years has passed since your purchase, you will most likely need a written appraisal from a Gemologist. Appraisals at Fox Fine Jewelry are done on premises and most are $125. George Fox is a Certified Gemologist.

Estate Jewelry Appraisals

Custom Engagement Ring from Fox Fine JewelryIf you recently purchased a pre-owned (estate) engagement ring and are using your receipt for your insured value, you may not have sufficient coverage for an identical ring. This is because an identical engagement ring will probably have to be custom made. You may have sufficient coverage though, to replace your engagement ring with another estate engagement ring. If you want enough coverage to replicate your engagement ring, you’ll need a written appraisal.

Is it Real?

Do you have jewelry and you’re not sure if it’s real? Or what the approximate value is? Often people inherit jewelry and need to separate out gold and diamonds from costume jewelry. At Fox Fine Jewelry you can sit down with a Gemologist and ask any questions you have. Jewelry can be sorted and a verbal value or range will be given. Numerous pieces can be evaluated in a short time. The fee for this service is $45 for every 15 minutes. Contact us

More about Appraisals