A typical home insurance policy limits the dollar amount the insurance company will pay for jewelry and valuable items usually up to a per item and per claim limit. Whether or not your jewelry is more valuable than the limit on your home policy, you may choose to insure your valuables for their full value. It's peace of mind and often, broader coverage.
Documenting The Jewelry's Value
If the jewelry has just been purchased, a store receipt or certificate should establish the insured value. However, as time passes or circumstances change, the insured value must be reevaluated, perhaps by seeking an appraisal (expert opinion).
There are several professional jewelry and appraisal associations that can give you information on appraisers and appraising methods. All of these items are important, especially since you have to pay a fee for an appraiser's services.
Handle With Care
Once you're certain about the value of your jewelry and the adequacy of its insurance coverage, you need to properly handle your jewelry. After all, who wants to actually file a claim? If you own a significant amount of expensive jewelry you may want to look into other precautions such as:
Let Towne Insurance help you find the right amount of coverage to suit your specific insurance needs.
Call us today at 800-486-4611 or contact us here.