Need to update your jewellery Insurance Valuation ?

Insurance valuation

Jewellery valuation update

Out of date

An insurance company normally needs an updated valuation form every 3 - 5 years

Check the date on your last insurance valuation

Changes in Market Value

Market values for jewellery can fluctuate over time due to various factors such as trends, demand, and material costs. By updating your insurance valuation, you can ensure that your coverage reflects the current market value of your pieces, providing you with the appropriate level of protection.

New Additions to Your Collection

Have you recently added to your jewellery collection? If so now is the time to update your insurance valuations, as without it you could be underinsured and not covered for theft loss or damage.

Changes in Personal Circumstances

Your personal circumstances may have changed since you last updated your jewellery insurance valuation. Whether you've inherited valuable pieces, received gifts, or experienced a change in financial status, these factors can impact the value of your collection and the level of coverage you require.

 

Ensure Adequate Coverage

Insurance Premiums Are Based on Accurate Valuations

The value of your jewellery can directly impact your insurance premium. If your valuation is too high, you might be paying more than necessary. If it’s too low, you could end up with insufficient coverage. Having an accurate and updated valuation ensures you're not overpaying or, worse, underprotected.

 

Regularly updating your jewellery insurance valuation helps to ensure that you have adequate coverage for all your valuable pieces. In the event of a claim, an outdated valuation could result in underinsurance, leaving you financially vulnerable.

Peace of Mind

By keeping your jewellery insurance valuation up to date, you can enjoy peace of mind knowing that your precious items are properly protected. 

Take Action Now

Don’t wait for a disaster to strike to realize your jewellery isn’t properly insured. Regularly updating your jewellery’s valuation is a small step that can have a big impact on your peace of mind. So, if it’s been more than a year since your last update, or you’ve recently acquired new pieces, now’s the time to act. Protect what matters most – get your jewellery appraised and update your insurance today!

Contact a your jewellery appraiser to schedule a re evaluation or reach out to your insurance provider to discuss your current coverage.