Got a jewelry box that could make a treasure chest blush? Or maybe you found the Heart of the Ocean necklace from Titanic. No matter what kind of jewelry you’re holding onto, it deserves to be protected, doesn’t it?
Simply put, jewelry insurance is a policy designed to cover your jewelry (any kind you specify – from rings to Rolexes, it’s all good).
In exchange for the premiums you pay, your insurance carrier will reimburse your financial losses – or even replace the item – in the event of theft, mysterious disappearance, or damage up to its specified value.
Yes, but coverage under your homeowners policy is limited to only a small number of causes, like theft, and has a cap of $1,500.
If you want to make sure you’re covered for the full value (should a super-expensive bauble get stolen, for example), you’ll need an additional policy or endorsement.
A more comprehensive coverage option is to schedule personal property coverage. This covers a greater number of risks and will generally cover the full value of higher-priced items that exceed the regular policy’s limit.
The scheduling process involves listing each specific item to be covered and its value – determined by an appraisal.
First, you’ll want to contact an insurance agent. They’ll run you through all the ins and outs of the entire ordeal, including: