Tips for Getting the Best Jewelry Insurance
Can you imagine purchasing a new home or car without insurance? Many people fail to ensure another extremely valuable possession– their ring.
With all the activities you perform daily, it’s frightening to think of everything your ring is exposed to.
You may not be able to protect it from everything, but you can arm yourself with specialty insurance.
So how does it work?
Think of a jewelry insurance policy like your homeowners or car insurance. It is created specifically to protect your beloved jewelry from the unexpected – like loss, theft, or damage.
How do I get it?
Specialty jewelry insurance is a standalone policy, meaning it is not connected to any previous coverage you already have.
You need to submit an application with your personal information, along with information about the jewelry items you’d like to insure, directly to the insurance company.
It is recommended that you provide a detailed sales receipt or an appraisal with each item you wish to cover. This detail will make sure your items are covered for the correct value and will be essential to help repair or replace your item if you need to submit a claim.
Why specialized insurance?
Jewelry insurance provides an extra level of care for some of your most cherished possessions. If the worst does happen and you need to submit a claim, you will be taken care of by experts who understand jewelry.
After all, not all insurance claims professionals will know the difference between a princess or emerald cut diamond like an expert jewelry insurer would.
We can’t speak for all specialty jewelry carriers, but with a company like Jewelers Mutual you get an extra level of protection beyond what would be covered by your homeowners or renters insurance.
Loss, theft, damage, and mysterious disappearance? We’ve got you covered.
How much does it cost?
It depends on where you live, but specialty jewelry insurance (at least from Jewelers Mutual) typically costs 1-2% of the value of your jewelry, paid once per year.
For example, if you have a $10,000 engagement ring, it will cost approximately $100 a year to insure.
Sounds too good to be true, right?
It’s not. You protect your home and car with specialized carriers, why not protect your jewelry with the best jewelry insurance from experienced jewelry experts?