What Is A Jewellery Valuation For Insurance Purposes?

We know jewellery can be highly sentimental and irreplaceable, but valuations for insurance purposes can give you the security and peace of mind in case something does go wrong.

Through no fault of your own, jewellery can be lost, damaged or stolen. This is why it's absolutely necessary to value your jewellery for insurance purposes.

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Firstly, what is a valuation?

A valuation is an assessment of your jewellery to determine its replacement value at the current market rates. Valuers take into consideration the materials used, diamonds or gemstones set, as well as the time and cost to replicate the piece.

It will detail the metals used, the overall weight of the item and the characteristics of any diamond or gemstone, including their cut, colour, clarity and carat. These will be accompanied by images to show proof of the item. 

The valuation provides an examination and expert-written opinion of the authenticity and quality regarding your item, enabling your insurance company to cover you in the event of a loss.

Why is a jewellery valuation required?

Any item you feel could be valuable is worth insuring. If you unfortunately did need to make a claim, your insurance company would want to see a valuation to prove you owned the item and its worth.​

It's important to know that having dated or ill-informed valuations mean an insurance company might pay undervalued amounts or even outright reject the claim.

Other reasons for a valuation could be for personal interest or a private sale. If you're looking to sell your jewellery, check out how to increase your profits by up to 30%.

What’s the process?​

A deep inspection is carried out for any damage or defects and insecure stones, providing a thorough check and informing you of any issues found before proceeding

Your item is then placed in the ultrasonic, steamer and deep cleaned

Now clean, we're able to thoroughly assess the condition thoroughly to determine its quality and value

Your item is then weighed as a piece

A detailed description is provided of the item including the size of any stones if applicable, their weight, colour, clarity

We then establish the replacement value on the current market prices, taking into account the cost of remaking the jewellery and replacing any stones to match as close as possible

Your item is then photographed for proof of ownership

We then email you a PDF and make a hard copy for you which can be picked up in person or sent by post​

How much does it cost?​

We charge £70 per valuation, per individual piece, regardless of the size or value. Our jewellery valuations completed for insurance purposes take no longer than three days to complete.

Any piece of jewellery we create will include a valuation for insurance purposes which you will be able to take to your insurance company.

How often should jewellery be valued?

​This is dependent on your insurance company, but any jewellery newly purchased should include a valuation for insurance purposes. If you do have any jewellery you believe to be valuable it is advised getting it professionally appraised as soon as possible.

​We believe your jewellery should be checked yearly for insurance purposes, and updated if needed but should be renewed every three years as a minimum. If you were to make a claim and material prices such as gold or diamonds have gone up significantly, not only are you paying a premium for your insurance, you would receive less than you would need to replace the item.

​If you're based in London Zones 1 & 2, we collect and deliver to your chosen location.​ 

​​Ensuring your most treasured belongings are valued will put you at ease should the worst-case scenario happen, and you’ll be in a much better position should you need to make an insurance claim.

If you're looking for advice or would like your precious jewellery professionally valued, please and we will be in touch to discuss your needs.

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