Is Your Jewellery Adequately Insured?
The best way to protect your jewellery in the event of loss or damage is to insure it. To insure pieces for the right value requires a valuation from an Institute Registered Valuer.
Is your valuation description sufficient, giving details for the following purpose:
A competently prepared insurance valuation schedule should contain information on the size, shape, materials, age, weight, etc. and the monetary value of an item. Such work should only be entrusted to specialists in the appraisal and valuation of jewellery.
A quality jewellery valuation service is prepared by a Fellow of The Institute of Registered Valuers working to the National Association of Goldsmith’s code of practice and is independently regulated to ensure that established high standards are maintained.
A valuation for probate is done to establish the value of a person’s estate.
The value is based on the price, which the jewellery is likely to realise if it were sold at auction at the time of death of the owner.
The sum will be considerably less than a valuation for insurance as current labour, materials and taxation costs are not taken into consideration, but only the current market situation.
The Valuer will require the following information: