Jewelry Insurance Tips

You make think the process of getting your jewelry insured is a hassle but it’s actually very easy. Most insurance companies will provide plans that will cover all of your fine jewelry.

The first step is to check your home/renters insurance to see if it falls under your current plan.  The next step is to get your jewelry appraised by a professional within the jewelry industry.  An appraisal is a detailed description that provides the value of the piece.  The final step is to talk to your insurance company to finalize the policy.

 It is important to understand your coverage, as some insurance companies may offer a deductible and other may offer replacements. It is very important to ask, how the company defines replacements.  Additionally, it's wise to get your items reevaluated every three years so you are properly covered. 

Appraisers rates vary, it's advised to use an appraiser that charges a flat rate for the item, rather than the fee being based on a percentage of the items value. This will keep the appraisers estimate fair and based on the items market value, not their fee.

The possibility of damaging, losing, or having your jewelry stolen is always a possibility. You can have peace of mind by knowing if something happens, you will not suffer from a monetary loss.