Jewelry Insurance

Many people make the mistake of trying to get their jewelry covered under their home insurance. However, many home insurance policies do not cover expensive or high end items. If you want to make sure that your jewelry is protected, you need to ask your insurance company about jewelry insurance.

We want you to understand the important of protecting your jewelry. Here are a few things you probably didn’t know about jewelry insurance:

  • Any type of jewelry can be covered, including watches and engagement rings. If you are unsure whether a piece of jewelry should be covered, or even if your insurance company will cover it, don’t hesitate to ask your agent. Each insurance company has different standards. Not everything needs to be covered, but don’t leave things to chance.
  • Most jewelry insurance plans cover damaged and lost jewelry. However, you need to make sure that you know exactly what your insurance company will cover. You also need to know how claims will be handled. For example, your insurance company may cover lost jewelry, but only when claims are made during a specific time period. Know the particulars of your policy.
  • In order to gain coverage, you need to complete a home inventory. Insurance companies will not cover items that are not listed beforehand. In order to acquire the right amount of coverage, you need to honestly tell your home insurance what needs to be protected.
  • There is a different between replacement of items and monetary coverage. The sad truth is that you will not be able to replace family heirlooms if they are stolen or damaged. You will, however, have peace of mind knowing that you will gain something from any jewelry related accident.
  • Most jewelers will offer you some type of insurance when you buy a piece of jewelry from them. You don’t have to take whatever insurance they offer you, but you can. At this point, you’ll be able to either have that piece of jewelry insured by their providers, switch jewelry insurance providers, or inform your own jewelry insurance provider that you need to add another piece of jewelry to your plan. Don’t wait too long to make a choice.
  • There are other ways that you can protect your jewelry other than a home inventory list. Most insurance companies will require that you keep a list of any insured jewelry. Some companies might suggest that you also take pictures of all of the jewelry included in your policy and keep the receipts of any new jewelry that you buy.

Jewelry insurance doesn’t have to be expensive. You may be able to receive discounts. Every company has different discounts, so make sure to ask your insurance company what they offer. For instance, you may be able to get a discount if you own a jewelry safe or if you take your jewelry in for regular inspections.

We know how important your jewelry is to you. That’s why jewelry insurance is a vital part of your insurance portfolio contact our professionals here at SOGO to find out how to acquire the jewelry insurance that you need.