Almost $1.5 billion in jewelry is reported lost orstolen each year, and many of these claims turn out to befraudulent.

Unlike cars, furniture and other insured valuables thatdepreciate the minute they leave the store or car lot, fine jewelryoften becomes more valuable.

For that reason, underwriters should remind agents to obtainupdated appraisals every three to five years. Appraisals shouldinclude more than just a dollar amount. A picture is worth athousand words and detailed photos make the replacement processmore accurate.

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