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Why do you need to have extra insurance coverage for fine art & jewelry?

International Society of Appraisers

” Specifically, many people may not realize that traditional homeowners insurance policies typically have coverage limits that may not be sufficient to adequately protect high-valued property such as fine art, jewelry, or luxury items.

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Why Get a Diamond Appraisal for Your Engagement Ring

GIA 4Cs

Why Get a Diamond Appraisal for Your Engagement Ring In this blog, we answer five key questions about diamond appraisals: What is a diamond appraisal? Should the engagement ring be lost or stolen, insurance coverage ensures you would receive fair compensation for it. How does a diamond appraisal protect your engagement ring?

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Passion Assets: A True Love of Collecting

Art Peritus

This makes it critical to secure proper coverage. Options include additional coverage from large insurers like CHUBB or bespoke policies from specialty firms such as Treadwell and Distinguished , both of which cater specifically to luxury collectibles.

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Art vs. The Elements

Art Peritus

Collectors should consider separate art insurance coverage instead of relying solely on traditional homeowners insurance. Homeowners policies often have coverage limits and exclusions that may not fully protect high-value, rare, or fragile artworks from risks like extreme weather events, theft, accidental damage, or loss during transit.

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Comparison between Jewelry Appraisal Value and Selling Price: Understanding the Distinctions

Buckhead Jewelry Appraisers

Conversely, an accurate jewelry appraisal value is necessary for the right insurance coverage. In this blog, you will understand the elements differentiating jewelry appraisal value from the selling price of jewelry. Jewelry appraisal value and selling price of jewelry represent different figures and serve different purposes.

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Reason for appraisal updates

James Farrow Company Jewelry Appraisers

If the couple had spent 30 – 45 minutes and around $100 on a new appraisal every five years, their insurance coverage would have increased enough to make this situation a mere inconvenience and not the major issue it has become. This is an everyday occurrence.

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What Does a Jewelry Appraiser Actually Do?

La Jolla Gem Appraisal

It can be used confidently for legal purposes, insurance coverage, taxes, or selling with clarity. This means the report meets the highest ethical and reporting standards in the industry. It includes clear photographs, detailed descriptions, and a well-supported value conclusion.