Did you get your rings appraised?

posted 3 years ago in Rings
Post # 2
Member
2130 posts
Buzzing bee
  • Wedding: June 2015

oxstardust421xo:  We got my engagement ring appraised (and will probably do the same with my wedding band). We had to, for insurance purposes.

I think it’s ABSOLUTELY worth it to get insurance, and as far as I know, you have to have an appraisal to get insurance.

I have no idea if my ring has a warranty, but our insurance covers just about everything, (theft, accidents, etc.) so I’m not too worried.

If you’re not getting insurance, I don’t see any real reason to get an appraisal.

Post # 3
Member
2661 posts
Sugar bee
  • Wedding: May 2014

Yes, my e-ring is appraised and insured.

Post # 5
Member
1894 posts
Buzzing bee
  • Wedding: May 2013

insurance would be for if someone broke into your house and stole your ring, or if you were physically robbed on the street or if your ring just happened to slip off and you lost it completely

I would say that if your ring is worth more than $3500 or so I definitely think you should have it appraised and insured. Under that amount you might want to weight the insurance premium (usually in the area of about $10 per $1000 of value) vs your ability to replace your ring on your own.

 

Also you don’t need to give it up to get it appraised – most shops can do it while you wait. It should only be like 20 min or so (unless they are really busy) especially if its a new ring they should already know all the specs (ie 4Cs)

Post # 6
Member
8909 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

oxstardust421xo:  Insurance covers your ring(s) if they get lost or stolen, which a warranty does not do.  It only costs something like $10 per year for every $1000 of value, so I think it’s well worth it.  Unless you literally never take off your ring, I’d insure it.  I have mine on about 99.9% of the time but mine are insured for sure.

Post # 7
Member
11668 posts
Sugar Beekeeper
  • Wedding: November 1999

oxstardust421xo:  you need one if you plan on insuring them.

Post # 9
Member
1894 posts
Buzzing bee
  • Wedding: May 2013

oxstardust421xo:  where did you get the ring from? ask them if they can do the appraisal

its strange to me that you would have to send it out unless you wanted the stone to get certified (then they have to actually remove it from the setting – which I wouldn’t recommend unless its a very very pricey stone and you need this for insurance)

Post # 10
Member
2130 posts
Buzzing bee
  • Wedding: June 2015

oxstardust421xo:  We actually didn’t even have to bring the ring in for our appraisal. We gave them the GIA certificate, and that was all they needed (they checked out the ring in person for a few minutes). 

And insurance is for thefts or accidents – what if you take your ring off and lose it? What if it gets stolen? Warranties don’t cover that kind of stuff.

Post # 11
Member
532 posts
Busy bee
  • Wedding: May 2014

oxstardust421xo:  when we bought my ering and wedding band they each came with a final invoice, valuation for insurance purposes and the diamond grading report. Brilliant service and invaluable documents for our insurance should anything happen!

Post # 12
Member
8603 posts
Bumble Beekeeper
  • Wedding: December 2013

Yepp!..ive already lost one engagement ring and thank goodness it was insured!..a local jeweler appraised my current wedding set so we could have it insured through our homeowners policy..I highly recommend doing so..it doesn’t cost much extra at all and is totally worth it! 

Post # 13
Member
1499 posts
Bumble bee

oxstardust421xo:  Is this insurance provided just covering damage/loose stones (or diamonds falling out because of their workmanship)?

The point of actual insurance is to protect you from theft, if you lose it completely, or it burns up in a fire etc. Most home insurance doesn’t cover more than $2500 for jewellery for theft or fire, so if your ring was stolen from home and it was less than $2500 you are ok, but anything more- and anywhere else in the world- you are hooped. I know I can travel safely and if my ring does get stolen or i lose it on a ride in Disneyworld, I am covered!

Post # 14
Member
591 posts
Busy bee
  • Wedding: October 2009

My ring had to be appraised to get it insured though full circle..Most insurance requires a full appraisal GIA only has the diamond specs, not the value of the whole piece.its smart to get insurance on all your jewerly its not cheap an,to replace it can be very expensive as years go by ..most insurance companies require a new appraisal every 5 to 10 years as gold value and diamond value change, the replacment value changes !! The warranty they offer at the chain stores only cover repairs or defects they do not cover theft or loss .. I would get your ring appraised n get it insured as soon as you can if you call some of chain jewelry stores they have a appraiser come to perform in store appraisal a couple times a year ask them when they come and make a appointment.. You will have to pay for the appraisal as it a separate fee the average is $100 to $250 for them to do a appraisal then you will be good to go to add your ring to your home/renters policy.. Hope I helped you sorry for the novel 

Post # 15
Member
326 posts
Helper bee

Definitely appraise it to make sure that you got what you paid for And that you don’t get ripped off in case they ever have to replace your diamond. I would definitely insure it… It’s worth every penny to me. 

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