Bought wife's ER in 2004 and at time of purchase had it appraised for insurance coverage.
Each year the insurance co raised the replacement cost due to some inflation factor.
I just had it re-appraised and it was much higher than what the insurance co had it listed for.
I am glad I did this and should probably re-look at the numbers every few years. With the increase in the price of diamonds over the last few years, the replacements costs have really jumped, not just the diamond but the platinum used in the setting.
Each year the insurance co raised the replacement cost due to some inflation factor.
I just had it re-appraised and it was much higher than what the insurance co had it listed for.
I am glad I did this and should probably re-look at the numbers every few years. With the increase in the price of diamonds over the last few years, the replacements costs have really jumped, not just the diamond but the platinum used in the setting.
i added up all the $$$ i save on insurance premiums since 2004... 
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