Do I need another appraisal report?

[Klamorris]

I just recieved my diamond ring, purchased from Dirt Cheap Diamonds and it came with an "independent appraisal" and GIA certification, however the jeweler who set the ring (an individual who is seperate from the company and in another state, yet designated as their official jeweler) was the one that appraised it. Is it necessary to get an additional appraisal for insurance purposes?

Also, how long typically are in depth appraisal reports and how do they differ from the one page appraisals?

Thanks in advance!!

 

[niceice]

Even though we issue an appraisal for the diamonds and jewelry that we sell, we advise our customers to obtain an independent appraisal on their own because we want them to be confident that they received 'exactly' what they purchased. Let's face it, when 20/20 or 48 Hours decides to do an expose' on internet diamond dealers at some point in the future and focus only on the few dealers which are disreputable instead of on all the reputable dealers here on PS, we want our customers to be sitting back relaxing in their Lazy Boy chairs and thinking "Boy am I glad that I took the time to have my purchase checked out" rather than freaking out at ten o'clock at night when it may be difficult to reach us... So do you need another appraisal for insurance purposes, no... But you might want one for your own peace of mind.

 

[PlatinumDiamond]

To have an item insured, an appraisal is all that is usually required by an insurance company. Any thing else to go along with it such as lab reports and certificates, just adds more protection in getting an equal replacement for your lost or stolen jewelry. Some insurance companys will take just a receipt of the purchased jewelry as long as it has somewhat of a description as to what it is and the price.

To most insurance companies, it doesn't matter where or what kind of an appraisal you have, as long as there is a description of the item and the value. More info about the item just better protects you when it comes time, if ever, to make an insurance claim.

 

[strmrdr]

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