Is it covered....? Jewelry!

In this edition of “Is it covered…?” let’s talk about jewelry. Does your homeowners policy have adequate jewelry limits? Have you scheduled individual pieces of jewelry on your policy to ensure they are protected? If you’ve recently acquired new jewelry or aren’t sure if you’re covered, read on!

Most homeowners policies have set limits on jewelry and other precious metal holdings and may only be covered by certain perils. By scheduling your item, coverage is provided against mysterious disappearance (or an unexplained loss) which may not be a benefit through your standard homeowners policy.

The solution? We recommend that you perform a quick inventory and estimate the value of your jewelry holdings. Then contact our office to compare estimated values against your current policy limits. If you are unsure of the value, contact a reputable jeweler for an appraisal. Single jewelry items in excess of certain amounts often require an appraisal to obtain coverage with certain insurers. If it proves that your jewelry holdings are under insured, we can offer cost-effective solutions which typically take the form of an endorsement or separate policy. Such policies often provide broader limits and expanded coverage. Don't wait until your valuables are lost or stolen to discover that they are under insured. Contact our office today.