How to Value Jewellery For Insurance
Knowing how to value jewellery is essential if you want the right cover for precious items. A professional valuation ensures your insurance company can settle fairly and reduces disputes if jewellery is lost or stolen.
As a high-value home insurer, rivr builds cover around clear documentation and current replacement values for jewellery, watches, and silverware. That approach keeps your schedule aligned with market prices and ensures proof is ready if the unfortunate event occurs.
This guide explains the valuation process, who should complete it, and how insurers use the figures. You will also see how a written valuation supports accurate sums insured, helps reduce insurance premiums, and gives clarity when making a claim.
What a valuation is and why it matters
A valuation is an expert opinion of value at a stated date for a specific purpose. For insurance purposes, the value reflects the cost to replace like-for-like at the time of loss, not an auction result.
Insurers use the figure to set sums insured and to assess a claim. Without a current professional valuation, you risk being underinsured or overpaying. A written valuation with images and a full description helps prove ownership, quality, and stones, and underpins the overall value applied by insurers.
With rivr's contents insurance, jewellery and watches must be insured for current replacement value. That ensures your schedule reflects what it would cost to buy equivalent pieces today.
When do I need jewellery valuations?
Arrange valuations when:
- You add high-value jewellery or watches.
- Market prices change.
- Policy terms require evidence.
If an item valued could exceed your unspecified limit, it must be listed. A professional valuation may be requested to agree values.
New acquisitions may be covered temporarily if you notify within the timeframe stated in your documents, giving time to complete the valuation process.
Fine art and antiques may benefit from market appreciation where a valuation exists, but this does not replace the need for accurate jewellery valuations.
Who can provide a professional valuation
Use registered valuers with expertise in diamonds, gems, precious metals, and watches.
- The The National Association of Jewellers oversees the Institute of Registered Valuers, whose members maintain exacting standards.
Always carefully check their credentials, then book an appointment that suits your collection.
What a good valuation report includes
For insurance purposes, a valuation report should provide:
- A full description of each piece.
- Stone weights, grades, and treatments.
- Clear images.
- The valuation process basis (replacement).
Some reports also include registration on a secure database, insurer notes, and an online valuation portal.
Insurers rely on detailed descriptions to confirm ownership and source replacements. A robust written valuation ensures individual items are fully recognised.
How to prepare for a valuation day
A valuation day lets a valuer assess several items in one appointment, either in-store or at your own home.
Prepare by:
- Cleaning jewellery so stones are visible.
- Bringing receipts, previous reports, and certificates.
- Grouping jewellery, watches, and silverware by type.
- Making a note of repairs.
During the appointment the valuer checks diamonds, coloured stones, gold marks, watch references, and retail prices. This supports an accurate outcome and improves the written valuation for insurance purposes.
What do jewellers charge?
Jewellers charge by flat fee or as a percentage of the item valued. Confirm costs before the appointment and check what the service covers, such as digital copies or registration services.
A mobile visit may include an attendance fee. Desk reviews are cheaper but may lack detailed inspection. Choose the option that ensures an accurate, professional valuation.
Evidence by item type
- Diamond rings and an engagement ring: weight, cut, colour, clarity, and whether diamonds are natural or lab-grown.
- Coloured stones and gems: species, treatments, and estimated weights.
- Gold and other precious metals: fineness, marks, and weight.
- Watches: brand, model, serial, movement, and market price.
- Silver pieces: seek silverware appraisers who understand assay marks and construction.
This evidence supports the overall value and helps if an item is lost or stolen.
How often should you update jewellery valuations?
There is no law, but the National Association recommends regular jewellery valuations. Refresh every few years or after significant purchases.
Trigger an interim appointment if you inherit pieces through probate or family division, or if you add precious jewellery such as diamond rings.
Registration services and theft prevention
After receiving your valuation report, register items with recognised services:
- The Watch Register: a secure database used worldwide by police, insurers, and the trade to track stolen watches and check serial numbers before resale.
- Enquirus: a theft-prevention and recovery register for watches and other property, allowing owners, jewellers, and insurers to check items against stolen records.
- Immobilise: the UK’s national property register covering jewellery, precious items, and household goods. Police forces use it to match recovered property to owners.
Some providers include registration services in the valuation service. A secure database deters resale and supports recovery.
Using valuations with rivr cover
Rely on current valuations to set sums insured. rivr expects jewellery and watches to be insured for replacement value and evidence supplied when you acquire new pieces.
If a claim arises, rivr uses your valuation report, receipts, and photos to confirm value. Keeping contact details for your valuer helps insurers work closely with them to resolve questions quickly.
Step-by-step valuation process
- Choose providers: shortlist registered valuers via the national association, JVA, or Guild.
- Book your appointment: decide on a valuation day and confirm what jewellers charge.
- Prepare documents: receipts, prior reports, certificates.
- Hand over safely: keep a receipt for any item valued.
- Review the valuation report: check every full description and image.
- Send copies to your insurance company and store backups.
- Register items on a secure database.
- Diary the next valuation day to stay accurate.
Common pitfalls
- Sale receipts alone are not sufficient.
- Online valuation tools cannot replace a professional valuation.
- Do not skip updates after market moves.
- Keep reports accessible in case of a claim.
- Check stolen watch databases when buying or selling.
How valuation purpose affects value
Insurance purposes require replacement figures. Probate needs open market value at death. Family division may require an agreed fair value. Always tell the valuer the purpose so the written valuation matches.
How insurers use your paperwork
When a claim is made, the insurer checks your valuation report and may verify details with your valuer. Proper documents help them respond fairly.
With rivr, valuations support adequate sums insured and smooth claim handling. WE also protect high-value jewellery, watch, and silverware collections at the level you deserve.
Final checklist
Protect your valuables with rivr
Jewellery valuations are about more than insurance paperwork. They protect the memories, craftsmanship, and value in each piece.
rivr delivers high-value home insurance designed for clients with significant jewellery collections. We work closely with registered valuers to keep jewellery valuations current and accurate.
By maintaining written valuations and keeping sums insured aligned, you protect your jewellery and watches with clarity, accuracy, and an unrivalled level of support.
Find the right cover for your jewellery and valuables today.
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Frequently asked questions
Most experts recommend updating valuations every few years or after major purchases, to keep sums insured accurate.
That is common. If a single piece might exceed the unspecified limit, specify it on your schedule. A written valuation can help agree on values.
Insurers usually require a physical inspection by a registered valuer; online valuations are only rough guides.
The Institute of Registered Valuers, the Jewellery Valuers Association, and the Guild of Valuers & Jewellers all list qualified specialists.
rivr requires the valuation to performed by a jeweller registered with the The National Association of Jewellers.
It should detail brand, model, reference, serial, movement, condition, images, and the basis of value.
No. You insure an overall contents sum and list specified items where they exceed policy limits, with valuations as evidence.
Report it to your insurer and the police, then supply your valuation report and registration details to help verify and recover.
