Yes! The market value of your ring will likely change over time. The prices of metals and stones (including diamonds) typically increase due to economic conditions like inflation, which can raise the overall value of your ring.
It’s possible your ring is worth more today than the amount you insured it for, which is why we strongly recommend obtaining an updated appraisal from your jeweler every two years. This allows you to increase your coverage limits, if needed, to avoid paying out-of-pocket in the event of a loss.
You can upload an updated appraisal to your account here, or email us a copy at [email protected]. Our Customer Care Team will take it from there.
If you decide not to get your item re-appraised, Jewelers Mutual offers a value-added service called an “Insurance Value Adjustment" (listed as “IVA” on your policy) which adjusts your coverage limits based on an estimate of what it would cost to repair or replace your ring in today’s market.
While we do our best to determine the right amount of protection in a changing marketplace, it still may not be enough. Some states even limit the amount of IVA we can apply in a year.  That’s why we encourage you to consult with your jeweler, even after an IVA is applied, to determine your item’s value.
Read our complete guide to jewelry insurance.