To make sure you receive the correct payout 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.
It is essential that you discuss with your valuer how you would replace your items if they were to be lost as this is fundamental to the type of valuation produced.
In the event of loss, the onus is on you to prove that you owned the items you are making a claim for. Valuations establish that you owned the pieces at the time of the valuation and their correct replacement value for insurance purposes. Many insurers do not ask for valuations below an agreed value but our advice is to obtain valuations for all significant items. Smaller pieces can be grouped together and an overall value allocated. In the absence of a valuation, insurers often use claims management specialists to try to ascertain the value of jewellery after it has gone, an unsatisfactory process known as a post-loss valuation. Valuing something after you have lost it often results in an under assessment of the lost item’s true value.
When you need you jewellery valued, you can place your trust in an NAJ's Institute Registered Valuer (IRV). The NAJ' s Institute of Registered Valuers is the UK's leading association of jewellery valuers.
All IRVs have proved their expertise to their peers, with formal qualifications and substantial experience within the industry. They provide a high-standard, professional service you can trust.
The National Association of Jewellers
Head Office: Federation House
10 Vyse Street
Birmingham, B18 6LT, UK
London Office: 45 Britton Street, London EC1M 5NA