(Closed) Has anyone had their moissy’s appraised & insured?

posted 6 years ago in Rings
Post # 6
2321 posts
Buzzing bee
  • Wedding: July 2011

I’m thinkin’ abt getting this done. However, I wouldn’t tell them that it is a moissy. I want them to conclude this themselves. If they ask me ‘what is it?’ I will tell ’em it’s a ‘hand me down’ ring from a dear aunt who has passed on……

Post # 8
1917 posts
Buzzing bee
  • Wedding: April 2012

@Sasha2011: Why would you not tell the insurance company that your ring is a moissanite?  When I insured my diamond engagement ring, I had to provide the certification papers for the diamond as well as an appraisal of the value.

Post # 9
7587 posts
Bumble Beekeeper
  • Wedding: December 2010

@louisianablue: ditto

they ask for the papers when you insure it. The folks who insure don’t do the appraisal.

Post # 10
705 posts
Busy bee
  • Wedding: July 2013

We’re getting mine appraised and insured after the holidays.  The appraisal is supposed to determine replacement costs–it’s usually more than what you paid.  You turn in the appraisal to the insurance company so that they have a dollar amount to give you when/if you need to replace your ring.  

I *think* that the appraisal is used as a base number so if you do an appraisal now and then need a replacement in 15 years, the specs on the appraisal will be adjusted to current costs by the insurance company.  I’m not sure on this but I don’t think that you need to update appraisals.

And just a general FYI–the appraisal price is what replacement costs will be–that number is not what you should expect to sell it for.

Post # 11
893 posts
Busy bee
  • Wedding: May 2013

@Sweet.Sugar.Rose:  You can probably contact one of the members from the AGI to see if they do appraisals for moissanites.  But make sure your appraiser is independent, meaning they don’t buy or sell jewelry, so they’re not biased.



Post # 12
67 posts
Worker bee

You cannot lie to the insurance company and tell them it is a hand me down diamond. If that were possible people would be insuring CZ’s as real diamonds and “losing” them to cash in all the time. My moissy ring is included in my content insurance with my house. It is included with the rest of my jewelry.

Post # 13
4354 posts
Honey bee
  • Wedding: February 2009

Not being forthcoming with your insurance company is a bad idea.

Most jewelers do over inflate appraisals.  That is because they want to make sure you get replacement costs should something happen to your ring, but  your insurance company does not have to give you the full amount.  They can give you whatever they deem to be replacement costs.  So having an over inflated appraisal really just insures that you will pay more for your premiums than you need to. 

Also, your insurance company will probably insist that you get a new appraisal done every 5 years.  They will not honour a 15 year old appraisal.

Post # 14
4322 posts
Honey bee
  • Wedding: September 2012

My Fiance had my moissanite ring appraised once it was completed. I haven’t seen the appraisal (my choice, I don’t really care to know the cost of the ring), but he said it was valued at more than the original cost.

We’re able to cover it by adding a rider to our renter’s insurance for only a small price increase, so you can probably get it added to your renter’s or homeowner’s insurance.

Post # 15
217 posts
Helper bee
  • Wedding: July 2012

Hmmm…my insurance company said I only needed to get an appraisal if the ring was more than $5,000. We just had to estimate how much we paid for the ring. The replacement cost influenced how much our monthly premium was.

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