Can the verification report that comes with WF diamond be used for insurance?

[Shannon72781]

Hi All,

I just got my diamond ring from Whiteflash and the report accompanying the diamond states it is a "verification report." is this different than an appraisal? Will I need to get my ring appraised in order to insue it?

Thanks!

 

[JohnQuixote]

Date: 12/4/2007 3:57:18 PM
Author:Shannon72781
Hi All,

I just got my diamond ring from Whiteflash and the report accompanying the diamond states it is a 'verification report.' is this different than an appraisal? Will I need to get my ring appraised in order to insue it?

Thanks!

Hi Shannon,

It's different than an appraisal since it contains only basic information. Also, as we are providing the report, it is not "indepenent." We include this document as a courtesy, not a substitute for a full third-party appraisal.

Your original invoice is all you will need for some insurers. Depending on terms you may only want to insure it up to that amount. However, insurance policies vary and since 95% of jewelry purchases are still made in the retail B&M environment our verification letter provides a reflection of pricing in that market. We hope having both the invoice and a retail valuation will prove useful when making insurance decisions. Additional professional input will permit even more choices.

Here is a related thread.

 

[Shannon72781]

Thank you, John!

 

[Regular Guy]

He does a nice job, doesn''t he?

 

[JohnQuixote]

You''re welcome Shannon.

Ira - A tip of the (Santa) hat to you.

Happy holidays.