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Respected Contributor
Mistreatedbycs
Posts: 4,781
Registered: ‎03-10-2010

Appraisals

‎04-14-2011 11:16 AM

Just finished listening to a jeweler than was on our local news this morning and he said a lot of jewelers give "feel good" appraisals which means if you buy a ring for $3,000, they'll give you an appraisal for $9,000 but the only problem is that if you have it insured the insurance company will only offer you $2,000 or replacement.


I'm thinking the only one making out in this deal is the insurance company since you're paying the premium for a $9,000 item.....but yet it does cover the cost of a replacement.


I think it would probably be to my advantage to call up my agent and ask them exactly what actually would happen if I did lose a piece of my jewelry that was insured.....I'm just assuming I won't lose any money in a worst case scenerio....we shall see.

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