I’m a jeweler with a successful business. Why should I care about appraisals, the insurance industry, and jewelry insurance?
If you’re not interested in doing appraisals, that’s fine. But customers need an appraisal to purchase insurance. So, if you don’t, can’t, or won’t provide the appraisal, your customer will have to go to someone else who does, can, and will — probably your competitor. Most everyone who purchases fine jewelry will purchase insurance to protect it against loss, damage, or theft. When a jewelry customer goes to purchase insurance, the agent will need important details about the item. These details are factored into the underwriting process and help determine premiums. Customers want to be insured for the true amount and not overpay based on an inflated appraisal. Insurance companies also want to know that they are properly insuring the item so that a fair and accurate settlement can be paid in the event a claim is filed. Thus, your jewelry customer and his/her insurance agent and company rely on your expertise. Those jewelers who have earned the CIA™ designation, which meets the criteria
