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Jewelry insurance isn’t one of those coverages you hear about all the time like homeowners insurance or auto insurance. Nonetheless, it’s a very important coverage to have. When was the last time you assessed the value of all the jewelry your family owns? That includes wedding rings, gifted jewelry over the years, heirlooms, everything. It’s something we don’t think about much, but the jewelry in your family may be as valuable as your vehicles. You should have insurance for such valuable items!
Many people assume that jewelry is automatically covered under their homeowners policy. The truth is that some policies don’t cover high-ticket items like musical instruments and jewelry. For those carriers that do offer coverage for those items, the limit on the policy may be too low to cover all of your possessions. That means that if you were to lose your jewelry due to fire or theft, you may not be covered.
That’s why it’s so important that you talk to your insurance agent about insuring your jewelry. We don’t want you to think insurance for your jewelry is prohibitively expensive either. In North Carolina jewelry insurance may be as little as $1 or $2 per year for every $100 your collection is worth. That means that if everything you own is worth about $10,000, your yearly payment could be as low as $100-$200.
Depending on your homeowners policy and the value of your jewelry, we may recommend increasing the limit on your homeowners policy or adding on a separate policy to ensure everything in your collection is covered. Be sure to contact us so we can assess your needs and get you protection that works for your family.
Here at Spivey Insurance, we care about protecting the financial future of our neighbors, especially from the perils they don’t think about every day. Call us at 704-821-4460 or connect with us on Twitter, Facebook, Instagram, YouTube, LinkedIn or Pinterest so we can help you protect all of your family’s assets.