Anybody value jewellery ?

[SimonTheSailor]

Couldn't find a jewellery forum so thought I might try here !!

Just about to renew mothers household policy and there's a couple of valuable rings. If it's worth over a certain amount it has to be itemised.

Asked when they were valued she said "a little while ago' - turns out it was 2000.

If I put down the value as that, would they increase it by 'xx%' because of inflation/increase in prices if they had to pay out ? Or only the amount it was previously valued at ?

I know the answer is to get it valued again but having just rang a couple they are booked until July !! The insurance needs renewing at the end of April.

Any advice appreciated.

[bristolbaron]

If the items are above the single article limit then they’ll need to be added as specified items.
Generally a new insurer will state a requirement for a valuation dated within the past 5 years, although will rarely request to see it on accepting the policy.
Considering your current position, I’d recommend an increase of 25% on previous valuations to start the cover, and then amend if vastly different once valued.
As general advise, I’d also recommend taking a couple of photos of all her valuables and storing via email/cloud in case they’re ever needed.

[ecain63]

Plenty of jewellers will 'value' your jewellery, but only a proper valuation done by a proper valuer will be worth the paper it's written on. I am asked endlessly for valuations but most people don't want to pay for it. They go elsewhere and get a cheap bit of paper written up and usually come back later for it to be done properly at the quoted price.

Wherever you take it, make sure they are / use a proper registered valuer. A proper valuation will come on official paper with registration numbers, valuers credentials along with the name and address the item is registered to and photos of the piece. Expect £75 upwards depending on your area for the first item.

[ecain63]

Oh, as a word of advice to all ...

If you've ever gone to a jeweller for a valuation and given your details (address etc) but the product was a bit substandard / outlet a bit shady, make sure you ask for all copies of your details to be returned or deleted / destroyed. It's not uncommon for criminals to buy details from dodgy jewellers and then burgle the house or property soon after. Obviously the above is no guarantee that the information wont get passed on but I hope the fear stops you doing it in the first place.

[SimonTheSailor]

Thanks for your input. So is the year 2000 worth the paper it's written on ? (It is by a well known long standing local jeweler). Would that be the minimum an insurer would pay out if I didn't have anything more recent do you think ?

[Seight_Returns]

In my experience no.

My wife lost a diamond ring which had an expired valuation and our home insurance wouldn't pay out anything.

[ecain63]

Insurance companies advise renewal of your valuation every 3 to 5 years (some won't pay out if expired, others will just pay out low). This is because the values fluctuate hugely, just like the economy. The 2008 banking crisis caused a huge spike in gold prices and although this has calmed a bit since the price of diamonds continues to creep every higher. Just get it done again and you'll have no issues.

[ctrph]

https://www.naj.co.uk/find-an-irv?SearchUnits=m&am...

This is where you can search for a registered valuer. I might be on there someday.