Things to Know About Jewelry Insurance

Interested in purchasing jewelry insurance? Let this article break it down to you.

Close-up of a hand of someone wearing a ring and bracelet.

It’s natural to want protection for things that are of great value to us. We store our money in the bank, and we store away our valuables away from prying eyes. As a jewelry owner, you may be fine with showing your everyday pieces on jewelry display holders in full view of others but would probably be more cautious and hide away the more expensive ones in a safe. Now, if you want to add another layer of protection to your precious jewels, insurance is your answer.

It is a must for home or car owners to get insurance for their properties, so why should jewelry owners be different? Admittedly, jewelry insurance is not well known to many, so let this article be your guide. We’ll start off with a bit of a surprise…

You may already be covered by some form of jewelry insurance without knowing it

If you already have a renter’s or homeowner’s insurance, then it’s likely that part of the coverage includes protection for jewelry. However, coverage and the insured amount is limited. Jewelry theft may be covered (up to a certain amount only), but damage to insured items is not. Likewise, jewelry loss due to natural disasters such as an earthquake or flood may not also be covered. You will still be better off with a dedicated jewelry insurance provider, which provides better coverage, riders, and inclusions.

You can choose from several jewelry insurance providers

Just as other insurance providers have different coverage policies and features to their programs, so do the jewelry insurance providers in this list. Remember to think about your reasons for purchasing one to figure out which provider is best for your needs and budget.

Close-up of a ring on someone's hand.

Make a record of the pieces in your jewelry collection before seeking insurance providers

Whether you plan to have all your valuables insured or just some select pieces, make sure to document every jewelry you own. This includes recording each piece with their type, value, material, and where and when it was purchased. If you have kept the receipt, then that would be better. Take photos of each piece or pair as well, and keep all the data you recorded somewhere safe. This would help your insurer and law enforcement on the unfortunate event that you lose one or all of your collection. For items you do not know the value of, make sure you take them to an appraiser to find out their value.

Take into account your lifestyle when selecting coverage inclusions

When choosing between insurance packages, make sure to find one that fits your lifestyle. Not all offerings will be the same, so it’s crucial to pick one that covers your needs. Insurance providers may also have specialized programs for the jewelry owner at home, the traveler, or the business owner. Frequent travelers may want to purchase insurance that includes coverage for jewelry lost abroad. Jewelers, meanwhile, can look into business-centric programs that cover not just your merchandise but also your damaged jewelry display showcases due to theft or disasters.

Whether you’re a jewelry lover who made it his/her resolution to become a better collector this 2020, or a business owner who wants peace of mind, investing in insurance for your valuables is a no-brainer. We hope we were able to help you make the right decision.


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