Having an appraisal is very important when getting your jewelry insured. It lets the insurance company know the exact value of the item for it to be replaced most accurately. It will also give you proof you can use to claim your ring if it's stolen and recovered by police. A gemologist can verify facts about your ring, and can assign a value to it. We recommend getting it appraised and insured as early as possible just in case something happens to your ring. How much does an appraisal cost? The fees are based on the expertise of the appraiser, the time required to do the evaluation and the complexity of the work. Some charge by the piece, time, and sometimes by the diamonds carat weight. At Cohen Jewelry Insurance they provide an in house appraisal which is actually great for customers making it a one stop shop.