How to Get Gemstone Jewellery Appraised and Insured

An appraisal and a lab certification report are not the same document. A lab report identifies and grades a loose stone; an appraisal values a finished piece of jewellery, usually for insurance purposes — and most insurers want the latter before covering anything valuable.

What an appraisal actually involves

A qualified appraiser examines the piece with a loupe, microscope and UV light, identifies and grades the gemstone(s), assesses the metal and craftsmanship, and produces a written report with a description, photographs and a stated value. A thorough appraisal states two figures that serve different purposes: a retail replacement value (what it would cost to buy an equivalent new piece — the number insurers use) and a wholesale or cash value (what it would realistically sell for — closer to real resale value).

Finding a qualified appraiser

Look for a certified graduate gemologist, ideally one listed with a recognised body such as the American Gem Society or a national jewellery appraisers' association, rather than relying solely on the selling jeweller's in-house valuation. Ask for credentials and references before booking, the same diligence you'd apply to choosing a cert lab for a loose stone.

What it costs and when you need one

Appraisals typically run a modest flat fee or hourly rate rather than a percentage of value — a meaningful distinction, since a percentage-based fee gives the appraiser an incentive to inflate the valuation. Many insurers only require a formal appraisal above a set value threshold (often around $5,000), with a simple purchase receipt sufficient for lower-value pieces — check your specific insurer's requirement before assuming you need one.

Submitting for insurance

Once you have a written appraisal on the appraiser's letterhead with contact details, submit it to your insurer to schedule the item on a jewellery or homeowners policy. Keep the original report, photographs, and any lab certification for the stone together — if you ever need to make a claim, the more documentation you can produce, the smoother the process.

Keep it current

Best practice is reappraisal roughly every three to five years, particularly for pieces containing lab-grown diamonds — see our lab-grown vs natural guide for how quickly that specific market has moved — since a stale appraisal can leave you meaningfully under-insured (or needlessly over-paying premiums) relative to current value.

Related reading

• Which cert lab to trust
• How gemstones are priced
• Lab-grown vs natural diamonds

Source: appraisal process, appraiser qualifications and insurance submission steps per Jewelers Mutual, Progressive, and the International Gem Society.