(Closed) Is this true

posted 7 years ago in Rings
Post # 3
8738 posts
Bumble Beekeeper
  • Wedding: September 2011

@Smiley Bride: I got my ring appraised for its replacement value. Replacement value = what it would cost to have a jeweler custom make your ring from scratch.

Post # 5
452 posts
Helper bee
  • Wedding: February 2015

I think you can have it appraised either way, depending on what you want.  Each way just has different fees and deductibles.  I got mine insured for the appraisal value.

Post # 6
870 posts
Busy bee
  • Wedding: September 2012

Yeah I think I a lot of people are confused by this. I’ve heard people talking about high appraisal value like it means they got a great deal on a purchase.

You should always insure at the replacement value–the insurance company is never going to write you a check for the appraisal value. Pretty much all contracts stipulate that you will get a value-equivalent replacement or a check for the replacement value. In general high appraisal values are used as either marketing techniques, or as a way to get you to pay higher premiums. 

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