...guidelines for insurers - how to spot an IRV valuation

 

Picture the scene: a customer goes into a retail jeweller's shop and asks, "I need a valuation, are you registered?"

 

The person behind the counter replies, "Yes, of course."  But when the customer goes on to say, "Are you an IRV?" or, "Are you N.A.G. registered?", we know that some stay that they are - when they're not.

 

The customer will assume they are telling the truth and ask them to produce a valuation for you, their insurer.  We hope that you will check that they are by following a few simple guidelines.

 

To help you identify an IRV's valuation it should: 

  • Be typed!  We do not permit our IRVs to give customers handwritten valuations.
  • Have the valuer's full name printed on the schedule (close to the signature).
  • They must also put their personal IRV number either after or under their name.  It will consist of five digits preceded by the initials "IRV", for example IRV92908 (the last two digits represent the year in which the valuer was elected).
  • They will state N.A.G. Institute Registered Valuer Fellow or Member after their name.
  • They are also encouraged to place an MIRV or FIRV logo sticker on their schedule.
  • Some IRVs also use an IRV embosser.

We know that Trading Standards take a dim view of those who misrepresent themselves and have successfully prosecuted people passing themselves off as N.A.G. members/IRVs when this is not the case.

 

Details of Members and Fellows of the Institute can be found on our Find a Valuer page but if you can't find someone and would like to double check (in case we haven't had a chance to update our database) you are most welcome to telephone 029 2081 3615 to confirm the status of a valuer.

 

The Institute is proud of the reputation it has built up over the years (we are celebrating our Silver Jubilee this year - 2012) and does all it can to ensure that this is not tarnished by those who purport to be what they are not.

 

We ask you to check that if a valuer says they are an IRV — that they are — and let us know if they say they are when they're not!

...beware on-line valuations

  On-line valuations are cheaper and all I have to do is send a picture of my jewellery and they send me a valuation. Why should...

...guidelines for insurers - how to spot an IRV valuation

  Picture the scene: a customer goes into a retail jeweller's shop and asks, "I need a valuation, are you...

Replacement and Repair of Obsolete Watches

Whilst the term “new for old” is regularly used when speaking about insurance cover there are other types of policy. ...

What is the Best Way to get an Honest Valuation of Your Gold?

   We've put together some FAQ about selling old jewellery for cash which we hope you will find...

Insuring Personal Jewellery - FAQs

on the right of insurers to replace and the importance of valuations       a) Why do many insurers insist on...

News archive

Institute of Registered Valuers | Siteplan | Cookies

Crumpled Dog Design