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Jewelry in BoxFrom costume jewelry to prized collections, a variety of jewelry types exist today. Anyone who owns jewelry with any type of value should take steps to insure it.

This is the best way to prevent a threat like theft from leading to financial loss. Often, you can insure jewelry using your home insurance plan.

However, it is important to provide specific coverage for your valuables. Don't assume that an existing home insurance plan will contain enough coverage.

Determine the Value of Your Jewelry


The first step when insuring jewelry is to determine the current value of the item. If you believe you know the value, work with your insurer to provide coverage up to that amount.

In some cases, it is best to prove the value of the piece rather than just assume it. To do this, get the pieces appraised by a professional jeweler. Keep this documentation showing the value of the piece. Also, keep a thorough description of the piece so that you can use it to file a claim later if it becomes necessary to do so.

Examine Your Existing Home Insurance Plan


The next step is to take a closer look at your current home insurance plan. Many plans will include coverage for personal belongings, sometimes called contents insurance. Most policies provide coverage up to a certain amount of all your belongings, based on a total loss situation. However, many will also include a per-item coverage limit. This is what you need to consider carefully.

If your plan's coverage limit is below that of the jewelry you own, you may need to invest in an endorsement that expands the coverage you have. This plan may be for the jewelry pieces specifically.

Your agent can add an endorsement to your home insurance. However, the endorsement remains separate to protect the value of that single item. It is important to consider endorsement plans like this carefully. They do not tend to be very expensive, but they can offer you a significant payout up to the value of your jewelry.

Anyone that owns valuable jewelry needs to consider their home insurance plan's ability to cover all needs. This way, should the items get lost, stolen, or otherwise destroyed, there is a way to recoup the true value of these items to minimize financial loss.

We've got you covered. Ahrens Insurance Agency can help you get the right insurance coverage for your high value items. Call us at (352) 368-7090 for a free Ocala home insurance quote.
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