Jewelry Theft and Fraud: How to Protect Your Valuables - PropertyBlawg

Jewelry Theft and Fraud: How to Protect Your Valuables

by Rebbeca Binder on November 17, 2013

(U.S. Law and generally) Jewelry is a favorite among thieves. It is easy to carry and easy to resell on the black market. You can easily transform jewelry into other pieces, and you can also disassemble it to sell to different buyers. The desire to steal jewelry has been around as long as jewelry itself.

People now have another thing to worry about when they are purchasing jewelry: fraud. Many jewelry stores, especially online, are selling expensive pieces that are nothing more than replicas. Rubies and Sapphires that are sold as high quality gemstones are in fact lab created or glass and diamonds are either not of the quality that they are sold as or are fake. So what should a person do?

Purchasing Jewelry Safely And Insuring Quality Pieces

While many jewelry items are priceless for the meaning or memories they hold, like wedding bands or commitment rings, the monetary value is what most people see when purchasing a new piece. It is recommended that any jewelry piece that you purchase that is considered valuable carry an insurance policy on the piece. You can purchase policies separately from other insurance products or as a rider on your current home owners or rental insurance. The type and value of the policy will be based on the piece.

To ensure that the piece you are purchasing is exactly what the store states it is, it is recommended that you receive a certification from the jewelry store on the piece. Some insurance companies will require this to place a policy on the jewelry. A certification will establish many things about the piece, including:

• Actual size and weight of the piece, including gem weight.
• Guarantee of authenticity of the stone.
• Origin of the stone.
• Grade of the stone.
• Cut of the stone.

For very expensive diamonds, the certification may also include “mapping.” Mapping provides details on the interior of the stone and any flaws that it may have that will distinguish the stone from any other piece.

You will also need to provide the original purchase receipt to the insurance company to prove what was paid for the piece.

Often, special pieces of jewelry like engagement or commitment rings are inherited from family. If you have inherited the jewelry, you must take it to an appraiser and have a value established. This is the only way that an insurance provider will cover inherited pieces.

Hiding Your Jewelry

Although it is very easy to purchase a beautiful jewelry box and place it on your dresser, or stash a jewelry case in your sock drawer, these are the first places that a burglar looks for your jewels. For the best protection of your quality pieces, you should invest in a fire proof safe for your home, and keep that safe in a place other than your bedroom.

Jewelry has always had a predominate place in society. People love to adorn themselves and the ones they love with jewelry. In today’s society, commitment rings, wedding rings and other jewelry pieces are priceless to the owns who receive them. Even in the oldest cultures known, jewelry played a large part in their society. Knowing how to protect your jewelry by purchasing safely, properly insuring the piece, and keeping it secure in your home, will ensure that you will continue to enjoy the pieces you own now and purchase in the future.

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