I took the engagement ring to an appraiser who then proceded to appraise it for $16,000 when I only paid $9,200 for it. He even had the GIA report to compare his evaluation to. The appraisal seems a bit excessive, and not even close to what I paid for it. The problem is that I want to get insurance, and a place like jewlers mutual will charge me double for a ring that cost 16k as compared to 10k. What doesn''t make sense to me is that they will replace the ring with something similar, so the appraised value is in essence not important. Or is it? Does anyone have any insight with insurance and some possible advice?