Your bling, family heirlooms, and precious jewelry can be protected from burglaries!
When it comes to jewelry, men and women alike aim to take care of their well-loved, sentimental, and flashy pieces. As a result, the silver polish is out monthly and a jewelry box is bought to store precious belongings. While these are sensible steps to take, one glaringly obvious way to protect jewelry is often fallen by the wayside: insurance!
If your jewelry often catches the eye of the general public, you may be at risk of losing that piece to a burglar. Insurance can protect jewelry from theft, but owners should always check (and double-check) that their pieces are secure through a policy.
Insurance usually pays only a limited amount unless you have a special policy or have added coverage to your homeowners insurance. Find out how you can protect your jewelry from theft today!
Many people insure their valuables on their homeowners policy, but this can have some significant disadvantages. Your homeowners insurance policy only covers jewelry that is in your home. This means that if your prized pieces are taken from your hotel room or if you’re mugged on the street, lost valuables are usually not covered. To make matters worse, your homeowners insurance may only cover the contents of your home up to 50 percent of your property’s value. For example, if your home is insured for $300,000, you probably have $150,000 in coverage for its contents.
It’s possible to increase coverage on your homeowners policy if you want to make sure your jewelry is fully covered in the event your home is robbed. If you add a rider and schedule your jewelry, the value of each listed piece is covered if it’s stolen. Be sure to get each item appraised before listing the value!
Of course, not everyone owners a property or has homeowners insurance. A standalone jewelry insurance policy can be purchased to cover you in the event of theft – even if the robbery doesn’t occur at your home.