Whether you have an impressive jewelry collection or just have one or two valuable pieces you want to make sure they are protected in case of the unexpected. Some jewelry might be covered under your homeowners’ policy. But if you own a particularly valuable piece of jewelry, or one that carries very sentimental value, your coverage may be lacking. Here is a little information on insuring your jewelry and other valuables.
You or your insurance company will have no idea what the value of all your jewelry is until you do a thorough inventory and appraisal check. This takes a little homework on your part. You will need to make a list of all the items you are insuring and their current market value. You would need this information anyway while making a claim or filling out a police report in the event of theft. An easy and efficient way to do this is to create a list with each piece of jewelry listed and its corresponding monetary value. You should include photos of the items as well. Physical photographs should be kept separately, along with receipts and any certificates of stone quality. It is also recommended that you should store a paper copy of your list or spreadsheet with these records.
What if you do not know the value of your jewelry? That is where a professional appraisal would come in. Some jewelry stores provide free appraisals for current or past customers, so be sure to keep that in mind. Keep all records of your professional appraisals with your existing records.
Check Your Policies
Contact the Leigh Agency and ask about your existing homeowners or renters insurance policy. You may have existing blanket coverage for your jewelry or specific coverage on certain pieces. Ask us about additional riders to cover specific high-cost items.
At Leigh Agency, we can help you find the perfect coverage for your jewelry or valuables. We also work with an insurance company who specializes only in jewelry coverage. Give us a call with any questions today!