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.
Here are a few things you probably did not 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.
- 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.
- In order to gain coverage, you need to complete a home inventory. Insurance companies will not cover items that are not listed beforehand.
- There is a difference between replacement of items and monetary coverage. Unfortunately, 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 do not 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 or inform your jewelry insurance provider that you need to add another piece to your plan.
We know how important your jewelry is to you. That is why jewelry insurance is a vital part of your insurance portfolio. Contact our professionals to find out how to acquire the jewelry insurance you need.