An appraisal is a formal document providing the estimated retail replacement value of an item, determined by current market data that reflects prevailing retail prices.

This assessment encompasses details such as the cut, color, clarity, and, for diamonds, the carat weight, or for gemstones, the millimeter dimensions, along with the overall craftsmanship of the item. Having an appraisal is crucial as it ensures that in the event of loss, theft, or damage, your insurance company will facilitate an equivalent replacement.

The comprehensiveness of the information within the appraisal enhances the likelihood of receiving an exact replacement for the item. This appraisal serves as a reliable basis for your insurance agency to calculate coverage rates for your diamond or fine jewelry.