When a person has a collection of valuable jewelry, especially those that include diamonds and other precious stones, it is imperative the right level of Jewelry Insurance in Monroe MI is purchased. Protecting these valuable pieces with insurance will help to put the owner’s mind at ease in knowing their pieces are insured.
What Should Owners Know About Jewelry Insurance?
Many people make the mistake of thinking their jewelry will be fully covered by their homeowner’s or renter’s insurance. Although this type of coverage is available, it is limited. To have jewelry covered by a homeowner’s insurance policy, the individual must first submit receipts of all of their purchases.
Because the coverage for jewelry is limited with a homeowner’s policy, it is wise for individuals to consider purchasing a separate policy for Jewelry Insurance in Monroe MI. Meeting with an agent who specializes in this type of coverage will help to ensure the right policy is purchased.
What Should Owners Ask About Jewelry Insurance?
Before a jewelry owner decides to purchase coverage for their jewelry pieces, they need to shop around at a few different carriers. The following questions should be asked of each insurance provider so the owner will be equipped with the information they need for making the right decision.
* Does the policy cover jewelry that has been lost or stolen?
* Will the jewelry need to be appraised?
* Is there a deductible for this policy?
* Does the policy cover the full value of the jewelry piece?
* Are there any clauses the owner of the jewelry needs to be aware of?
* Will the jewelry be replaced or can a cash value be chosen?
Asking these questions will help a jewelry owner to learn more about the policy they are considering purchasing. The more a person knows about their options, the better equipped they will be to make a sound purchase for coverage.
If you would like help in making sure your jewelry is covered by insurance, get in touch with us. Call the office so you can ask questions or schedule an appointment to get started on making your insurance purchase.
