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Written by
Jewelcover Team

People get jewellery valuations for many reasons, but the most common is finding out if they have enough insurance. Over the years, the prices of gemstones and precious metals fluctuate widely. If your latest appraisal is more than two years old, it might be out-of-date. As a result, your favourite jewellery could be insured for less than its replacement value. What does that mean? In the event of a claim, you might not have enough benefit to restore it fully.

Of course, that’s not the only reason people seek jewellery valuations. They might consider selling the piece and not know its market value. Other causes include determining the value or authenticity for estate and tax purposes, donations, loans or divorce settlements.

Whatever the reason, you can obtain a jewellery valuation in Australia in several different ways.

 

Getting Jewellery Valuations From a Jeweller

Many jewellers provide complimentary valuations for existing customers. They may also appraise items for a fee if they were purchased elsewhere. While jewellers have the tools to examine the quality of gemstones and precious metals, they may be considered impartial (especially if you bought the piece from them).

 

Using a Valuation Business

Another option is to take your jewellery to a business that specialises in appraisals. Some of these companies offer fixed-amount pricing, while others charge a percentage of the item’s value. 

 

Valuing Your Jeweller From a Diamond Lab (with Other Documentation)

When you purchase a piece of jewellery that contains diamonds, you will probably receive a lab certificate. The document specifies the stone’s clarity, colour, cut, carat, symmetry, polish grade, fluorescence and more. 

While diamond certificates don’t attribute a value to the gem, they’re valuable for authentication and identification purposes. Therefore, a lab-produced diamond certificate is not substantial enough to rely on for insurance or legal issues (like estate and divorce settlement purposes). Still, it can help establish value.

 

Valuations Through Jewellery Insurers Like JewelCover

One of our customer’s favourite benefits is receiving a complimentary valuation of their piece of jewellery. At JewelCover, we are passionate about ensuring you always have the proper amount of coverage for your treasures. 

That’s why we have jewellery experts review your piece’s market value each year when it’s time to renew your policy:

  • Have the materials changed in price since last year? 
  • Have currency exchanges affected replacement value? 
  • Has the cost of labour varied substantially since your last review?

 

What Other Benefits Can You Expect from a JewelCover Policy?

A free, annual jewellery valuation brings you peace of mind, but it’s not the only benefit of our specialised jewellery insurance. You’ll also appreciate:

Agreed Value Policy

We don’t provide “up to” coverage and try to replace your piece of jewellery for the smallest possible amount. The agreed value stands in the event of a claim, every single time, without fail.

Worldwide Cover

No matter how far you travel, your treasure will be fully protected from damage, theft and loss. You don’t have to bother with travel insurance if jewellery is your primary concern.

Return to Your Preferred or Original Jeweller

Instead of having an insurance company tell you where you have to go for replacement or repair of your jewellery, we think this decision should be left up to you. If you already have a relationship with a family jeweller, we believe you should return there. Alternatively, if you’d like to entrust a new professional with the job, the decision is yours.

Additional 25% Cover

Sometimes, it’s impossible to replace a piece of jewellery for its agreed value. This sometimes happens when currency rates temporarily fluctuate or when a gemstone is challenging to procure. That’s why we provide an additional 25% cover to compensate for such issues, so you can be sure you’ll get that perfect like-for-like replacement.

Unsurpassed Customer Care

Losing a precious engagement ring or treasured heirloom can be devastatingly stressful! We’re jewellery people ourselves, and we understand your loss. Our team is always ready to guide you through the claims process, working as quickly as possible, so you’re reunited with your jewellery without unnecessary stress or worry.

 

To get started on a jewellery insurance policy right away, give us a call at 1300 522 808, or fill out this form. You’ll always know how much your treasure is worth, and we’ll protect it for you.

 

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