Why do I need a valuation?
To ensure you receive the correct sum in the event of a claim, you need a professional valuer to examine your jewellery and to produce a formal document giving a precise description of each piece and confirming how their value has been determined.
In the event of a claim, if the only description you have of your jewellery is that it was “…a 3 stone diamond ring, purchase price £1,250”, you may not know whether the quality of the replacement ring offered by insurers is similar.
A professional valuation will provide an accurate description of each item and an accurate description of its quality – the type of precious metal, the size, colour and clarity of any diamonds or precious stones and an up-to-date replacement cost. Most valuations will also include a photograph. Such a valuation is a powerful protection against inadequate replacement.