| By :
Nick Messe
Over a lifetime, many people amass a collection of fine jewelry. It may be a few family heirlooms or an ever-growing assortment of pieces featuring a favorite stone, such as diamonds. Either way, fine jewelry is an important and sentimental investment, an asset which collectors should do everything to protect. Many people believe their jewelry is protected under their homeowners or renters insurance policy. However, this is not always the case. You should review insurance policies to determine whether your fine jewelry is protected. If it is not, or if the coverage is not sufficient to cover the entire worth of your jewelry, then purchasing additional insurance should certainly be considered. This is not something that should be put off until a later date. Peace of mind comes with being prepared for the worst, such as if your jewelry collection is stolen. Purchasing additional insurance is a great idea, but before doing so you need to know how much your jewelry is worth. Also, you'll need to document all of the pieces in your collection so that if your collection is stolen, you'll be able to not only file a comprehensive insurance claim, but also give the proper authorities the vital information they need to track down the stolen pieces. Consulting a professional jeweler to document and evaluate jewelry is a must. Jewelers have received specialized training through organizations such as the Gemological Institute of North America in order to be able to accurately evaluate jewelry to determine its worth. This is a specialized field and it's important to verify a jeweler's credentials before entrusting them with evaluating your property. Once you have secured the services of a qualified, professional appraiser, they will begin a comprehensive review of your jewelry collection. This review should consist not only of those pieces which are typically stored securely in your home, but also those that are worn daily, such as engagement and wedding rings. A professional appraisal should provide adequate documentation to prove exactly what pieces make up your jewelry collection and how much each piece is worth. Most will provide you with a written document that describes each piece of jewelry in detail, including multiple color photographs of the piece. The evaluation will include basic information about the piece such as whether it is a ring or a pendant, the mode of construction used to fashion the piece, comments about its weight, size, and condition. Any engravings on the piece, and an estimate of its age will be recorded as well. This appraisal report should be kept in a secure place, like a safety deposit box in a bank. Hopefully it will never have to be used, but it can be immensely comforting to know such thorough and accurate documentation exists. It assists you to protect some of your most valuable assets and ensure they can be handed down to subsequent generations.
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