Update insurance appraisal on demantoid?

[kristins]

I always wanted a demantoid so I splurged when I ran across this 4.5 ct Russian stone with horsetail inclusions several years ago. The color is just electric in person. A friend told me prices are going up, and I should be updating the appraisal for insurance purposes. My question is, how often do I really need to do that? Every five years? Every year? Thanks.

 

[woweezowee]

I don't have any insurance info - sorry!! But I wanted to say your ring is positively to die for. The size, the sidestones. Wow!!!!!

 

[athenaworth]

Oh my GOD that is amazing.

Sorry I can't answer your question - too busy drooling

 

[kgizo]

Perhaps ask your insurance company how often they require an updated appraisal.

 

[blingmeupscotty]

I have a local appraiser that does all of mine, perhaps you can find a few via google or yelp and send a few emails out? It would make sense. Insurance agents would tell you to do the same. Replacement cost value on the items in your home [other than electronics which seem to go down due to updates and production] always go up. It's a good question though!

 

[canuk-gal]

HI:

I died.

cheers--Sharon

 

[LilAlex]

The whole thing hinges on the quality of the appraisal. Does it reflect the uniqueness of the piece? Does it reference an independent lab report? My impression is that the retail replacement value has no meaning and they may just opt to replace it with something that a lay person would feel is similar but you would not. Easy with diamonds, which are commoditized. Almost impossible for colored stones.

If it were lost, I don't think any insurer will pay the four-fold inflated retail price. (Maybe some of you have experience with this.) And if you get a nice, high valuation, you will pay more for your 1 - 3% annually.

I assume you "schedule" these with your insurer?

 

[Austina]

Wowsers, it’s a stunner!