Post # 1
We are just getting around to insuring my ring with Jewelers Mutual and I was wondering how important a current appraisal value is for the insuring process. The ring was purchased in Jan. 2009, and the website asks for an appraisal within the past 18 months. Is this something I can flub or is it imperative that I go get it re-appraised in order for the insurance to be valid? Like will they ask me for the appraisal and check that the date is the one I listed?
Now that I’m typing this, it sounds ridiculous that I won’t just go get the darned thing appraised again for the sake of simplicity. Right? 🙂
Post # 3
I would just get it appraised. With most insurances, if they find out you weren’t 100% truthful (even tiny things), they can cancel the policy after the fact. We insured our jewlery through our home owners/ renters policy and they needed a copy of the receipt or appraisal.
Post # 4
I would get it appraised. The value can change and also you don’t want the policy to be invalid for some reason.
Post # 5
I had my jewerly under my parents home owners but when i moved out into my own place i had to get it apraised to put in on my renters insurance. Even though it was only off my parents for 3 days and it was with the same company… Just do it you dont want them to have a loop hole if something were to happen to your ring…
Post # 6
Thanks gals for reaffirming what I already knew! I just wish appraising was free :/ I hate having to pay $100+ for something that would have been free if we had just done it sooner! Bummer!
Post # 7
The FAQs on the Jewelers Mutual site says the appraisal needs to be in the last 18 months.
So there ya go, lol. 🙂