Does Your “Precious” Have Enough Jewelry Coverage?

Your jewelry needs to be insured to deal with the risk of everyday life, and while homeowners insurance may cover your precious items, you may require more.

If only Smeagol would have had enough jewelry coverage, perhaps he could have spent his time doing something more productive rather than following a pair of hobbits all the way to Mordor to steal back his “precious.” While your reason to insure your jewelry may not be as extreme, you need to know if all of your jewelry is going to be covered in case of an accident. Here are a few things everyone should know when it comes to their jewelry and jewelry coverage.

  1. How much does your homeowners insurance cover?
    Your homeowners insurance covers your jewelry, that much is not up for debate. What is up for debate is the amount of coverage and the damage to which your pieces of jewelry may fall victim. Insurance covers regular things like fire, theft, vandalism, and other things, but it will not cover stone.
  2. What is the monetary value of your jewelry collection?
    Hire a professional to appraise your collection in order to get an idea of how much coverage you need.
  3. Do any additional pieces need extra coverage?
    Only once you know your monetary amount, can you purchase the correct coverage. If some of your expensive pieces go above your coverage, you can extend the policy to these pieces to ensure you are covered.

Your jewelry may only have sentimental value, thus, no price tag in your eyes. But that doesn’t go double for burglars or the curve balls of life. For all of your home insurance coverage needs to keep your jewelry and your home safe from covered dangers, contact Stromsoe Insurance Agency. We will work with you to ensure you have the right coverage that you deserve, all at the right price to fit your budget.

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