insurance appraisals vs estate jewelry appraisals
Not all jewelry appraisals are the same. While both insurance appraisals and estate jewelry appraisals assign value to your pieces, they serve very different purposes—and using the wrong one can lead to costly mistakes.
At Lauren O Jewels, we specialize in estate and heirloom jewelry appraisals throughout Petaluma, Sonoma, Marin, Napa, and the Bay Area, helping families, executors, and attorneys receive the correct documentation for their needs. Here’s what you need to know about the difference between insurance appraisals and estate appraisals.
What Is an Insurance Jewelry Appraisal?
An insurance appraisal is designed to establish replacement value—the cost to replace the item if it’s lost, stolen, or damaged.
Key features of insurance appraisals:
Based on retail replacement value (often higher than resale value).
Used for obtaining or updating insurance policies.
Focused on protecting against financial loss.
Typically updated every few years as market values change.
Example: An insurance appraisal might value your diamond engagement ring at the retail price you’d expect to pay if you had to buy it new today.
What Is an Estate Jewelry Appraisal?
An estate jewelry appraisal, on the other hand, is designed to determine fair market value—what the item would sell for in the current secondhand market.
Estate appraisals are required for:
IRS estate tax filings
Date of death valuations
Probate and estate settlements
Equitable asset distribution among heirs
Legal and financial documentation during estate planning
Example: The same engagement ring may have a lower value in an estate appraisal than an insurance appraisal, because it reflects resale or fair market value rather than retail replacement cost.
Why the Difference Matters
Using the wrong type of appraisal can cause problems.
Submitting an insurance appraisal for an estate settlement may result in overvalued assets, potentially leading to higher taxes.
Using an estate appraisal when applying for insurance may result in an undervaluation of your jewelry, leaving you underinsured.
In short:
Insurance appraisal = replacement value (retail).
Estate appraisal = fair market value (IRS/probate).
Each serves a specific purpose, and only an estate jewelry appraisal will meet IRS and probate requirements.
How Lauren O Jewels Can Help
At Lauren O Jewels, we provide appraisals tailored to your needs:
Estate & Probate Appraisals – IRS-compliant, fair market valuations.
Date of Death Appraisals – Essential for executors and attorneys.
Heirloom Jewelry Valuations – Documenting family pieces for fair distribution.
Insurance Appraisals – When protection against loss is your priority.
Our appraisals are trusted by families, attorneys, and fiduciaries throughout Northern California, and we are available to travel for larger estate assignments.
Schedule the Right Appraisal Today
Whether you need an estate jewelry appraisal for IRS estate tax filings or an insurance appraisal to protect your heirloom jewelry, Lauren O Jewels provides clear, professional reports tailored to your situation.
Contact Lauren O Jewels today to schedule your appraisal in Petaluma, Sonoma, Marin, Napa, or the greater Bay Area.