Nice bling… Know what it’s worth?

January 27, 2012

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When was the last time you had your jewelry appraised?

  • The price of gold has increased significantly in the past few years. Every year, the value of your jewelry can fluctuate by hundreds of dollars. For this reason, it is in your best interest to reappraise your jewelry.

Why even bother… who cares if I know how much it is worth?

  • It’s important to appraise expensive jewelry and schedule it on your homeowner’s policy. Why? Because home policies limit the amount an insured can recover in case of a covered jewelry loss to around $1,000.00.* If you schedule the item to its appraised value, you can recover the same amount of money in case of a loss; the jewelry you schedule is also covered for more perils when it is scheduled on the policy.

OK… so let’s say I wanted to get an appraisal thing… where do I go from here?

  • We recommend returning to the jeweler from whom you made your purchase to get a trustworthy appraisal; sometimes, they can even be free if you return to the same jeweler. Otherwise, ask your close friends and relatives for a good jeweler so you can get a good quality appraisal (one that is not too vague or inflated).Insurance company statistics say that 20% of jewelry appraisals are inflated by 2-2.5 times their value. If you can find a jeweler that is GG (graduate gemologist) or a CGA (certified gemologist appraiser), it is all the better. Be wary of terms like “certified gemologist,” “diamondologist,” or “diamond certificate” as all of these are retail terms.

*This figure does not necessarily apply to all homeowners insurance policies and may be subject to a deductible.


Man’s Fiancee Drops $9000 Engagement Ring into the Atlantic and… Mothers Really Do Know Best

August 13, 2010

(How much do you love that picture?? /\ )

Matt Cawley planned a very romantic proposal for his girlfriend, Stacy Scanlon on the cape earlier this week. Cawley tied the $9000 engagement ring to a sand dollar and left it on the jetty. The original plan was to lead her there to find it. Awww! Unfortunately, things didn’t exactly work out that way.

When Scanlon found the sand dollar,  the knot tying the ring to it had untied, sending the $9000 ring into the Atlantic Ocean.

(At this juncture, I was planning on spewing some corny joke relating sand dollars to dollars to the $9000 ring, but I couldn’t come up with anything. If you made a witty connection, please leave it as a comment.)

The good news (!) though is that Cawley’s mother –though unbeknownst to him– took out an insurance policy to protect the ring only the day before!

My advice?

Go around your house. Do you have any jewelry that you’d miss? So often, things get lost or stolen! See the story above for a good example. Call me for a free quote to see how much it would be to add it to your homeowner’s policy!

Did you know that if you scheduled jewelry on your policy 10 years ago, it may be worth 3 or 4 times its original, scheduled value now since -in the past 10 years- the price of gold has quadrupled!

Sources: FoxNews, MarketWatch