Many people ask if we do appraisals on jewelry here at Buckingham Jewelers. The answer is "Yes" but more important than if we do is how often we do. You see, gold and platinum and even silver to a lesser extent are the victims of extremely volatile markets right now. That means that the appraisal on your gold ring that is 5 years old is probably not going to cover the cost of replacing it if something should happen to it. We recommend getting new appraisals every 2-3 years right now, just to make sure you are covered. Your insurance agent is only going to reimburse you the amount he has listed on his most recent filed appraisal. It might not be enough.
And while we are on the subject of insurance, please make sure that your jewelry in listed on a separate jewelry rider with your insurance agent. Homeowners insurance policies often only cover $2500 or so of jewelry if lost or stolen. Making sure you have a separate rider with your jewelry properly covered will result in greater peace of mind should the unthinkable happen. We recommend Jewelers Mutual Insurance for your jewelry coverage. They are an amazing company, both affordable and incredibly reliable. But no matter who you use, make sure your appraisals are up to date, and your insured properly.
We are happy to help you with your appraisals here at Buckingham Jewelers. Drop us a line and find out how we can help you keep your precious heirlooms safe. You'll be glad you did!
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