Great advice.Date: 3/23/2009 9:34:39 PM
Complying with the minimum requirements of the insurance companies is usually pretty easy but the real answer to your question is to ask your insurance agent or the underwriter.
As a general observation: When I have clients take back a ring to the jeweler due to problems discovered during the appraisal session, the #1 reason is craftsmanship problems with the mounting, problems with the setting job or damage caused to the stone and/or mounting while setting. If you discover these things early in your ownership it’s easy to go back to the jeweler but if you discover them later the insurance company can dismiss the claim as ‘pre-existing damage’ and the jeweler can dismiss it as an expired warranty. That leaves you in a pickle. In my opinion, the most important time to get a professional appraisal is after the project is complete and that can then serve as a benchmark attesting to the condition and quality immediately before the start of the insurance contract. You are not insuring a collection of components, you are insuring a ring.
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Professional Appraisals in Denver