Unfortunately, leaving your jewelry unprotected at home makes it an easy target for would-be thieves. That’s one of the many reasons why it’s so important to have ample protection for your weekend wear of jewelry.
Many homeowners and renters alike mistakenly believe that their jewelry is fully protected by their typical homeowner’s or renter’s insurance policy. This is not the case. You need additional coverage in the form of a valuable items or add on/rider policy.
In essence, it provides for an additional coverage amount beyond the standard coverage amount for possessions in a standard insurance policy. Another benefit of this type of policy is that it extends to things like stones falling out of a setting as well.
Your Responsibilities When Purchasing Jewelry Insurance
You have responsibilities too when it comes to protecting and insuring your valuables. These are just a few things you are responsible for during the insurance process.
Insuring jewels for the right amount.
Having items properly appraised.
Keeping copies of receipts.
Taking a photograph of the item and storing the photo safely.
Securing the jewelry adequately when not wearing it (safe-deposit boxes, locked safes, etc.).
Take jewelry in for regular inspections, too. In fact, some insurance policies will not cover things like missing stones or broken hardware if the jewelry isn’t properly examined and documented – this is a great way to ensure your jewelry is in a proper state of repair too.