Most people believe that their jewellery will be covered under their homeowner’s insurance plan, yet in most cases you will find a combined limit which may not cover the value of the jewellery.
If you possess jewellery which exceeds the limit of your homeowner’s policy, then you should be adding a jewellery rider/floater to the insurance policy.
The standard coverage typically included in the homeowner’s policy will be minimal and will not cover the price of special items like jewellery.
In fact, adding a jewellery rider/floater to the policy will act as an excellent means for protecting your financial investment.
The cost of insuring your jewellery will vary resting on the company and the location.
What is Needed for Insuring Your Jewellery?
Basically, all that you will need is an appraisal of your jewellery which you desire to insure. Always remember that as the worth of the jewellery increases, it is quite likely that your insurer over time may need additional appraisals to make sure you possess the needed value covered.
A Brief on the Different Variables Needed to Replace Jewellery
Should you plan in investing in a rider/floater for a particular jewellery this will offer coverage on all forms of risks such as damaged, stolen, lost or if the gem/stone falls out.
Ensure in evaluating the protection that you are receiving currently and assess if extra protection is needed.
Get in touch with a good insurance broker to ask them regarding insuring your jewellery pieces or the no obligation quote.
A woman’s jewellery is her personal treasure. It is indeed a statement piece of exactly who she is and also symbolise feelings and emotion from loved ones.
Jewellery hold great value so protecting the same is crucial. There are some home insurance plans that covers jewellery, furs and watches up to a certain limit as per the policy deductible.
Most women have jewellery worth much more that which is covered by the homeowner’s insurance plan.
So, it is important to go for a separate scheduled plan for such special pieces that will offer you coverage against mysterious disappearance, damage, theft and loss.
The price to add scheduled jewellery to a homeowner’s insurance plan is quite cost-effective.
The premium typically will range somewhere between 1.5-2% considering the appraised value of the jewellery.
By insuring your jewellery, especially if you purchased the expensive diamond engagement rings for men or women. Or affordable wood rings you are not only protecting your valued possessions, the value of the jewellery, your monetary purchase but most importantly protect the cherished moment and memories attached to the jewellery piece.