do i do this as soon as i get it?MissGotRocks|1482022805|4108059 said:You can also use your receipt and insure it for the amount paid. Make sure you furnish the insurance company with the cert if it is certified by AGS or GIA. You want to give them as much detail as you can especially if you are going with a company that will replace 'with like kind'.
Appraisals sometimes give a huge inflated value to the ring resulting in much higher premiums than necessary. You want enough insurance to be able to replace the ring but not so much that you are paying in excess of reasonable. Always revisit your insured amount every so often to make sure the ring is adequately insured. Diamond prices do fluctuate from time to time.
Ugh, I hate that jewelers do this. It's a "feel good" appraisal and does NOTHING to help yo--you pay more to insure a higher value item, and if they ever repair or replace, the insurer negotiates to pay less than retail anyway. Insure based on purchase price, if you can.DiamondDense|1482244842|4108542 said:so i got my ring appraised by the jeweler i bought from. the appraisal was double the purchase price.
in this case i guess it makes sense to insure based on the receipt/purchase order?