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How Do I Insure My Jewelry In Florida?

for Bradenton, Sarasota, Lakewood Ranch and Beyond

Nov 03, 2015

Jewelry often represents either a substantial investment or an important emotional attachment—sometimes it includes both. Whether you want to protect your grandmother’s pearls, your dad’s old Rolex, your engagement ring, or your entire collection of jewelry, you’ll need to take a few steps to protect your investment and your treasured memories.

Take Measures To Keep Jewelry Safe

Start by protecting your jewelry from loss, damage, or theft. 

  •          Keep it locked up when you are not wearing it. This not only prevents theft, but helps you keep track of exactly where it is so that it doesn’t get lost.
  •          Have it cleaned and inspected regularly. Sometimes jewels need to be reset so that they don’t slip out of their casings. Regular cleanings and inspections will help you keep your jewelry looking its best and keep everything in place.
  •          Leave your jewelry somewhere safe when you’re swimming, playing sports, hanging out on the beach, or camping. If you wear jewelry during these activities, it could easily get dinged, scratched, or fall off and get lost.
  •          Don’t take expensive jewelry with you on vacation—especially if you’re unfamiliar with your destination. It is easier to lose things when you’re shuffling luggage between airplanes, trains, and hotels. Flashy jewelry could also make you a target for thieves, muggers, and pickpockets. Instead of bringing your jewelry along, learn how to protect your home while you’re out of town so your jewelry can stay safely locked away. 

Invest In The Right Insurance Coverage

Doing what you can to protect your jewelry is a good start, but it may not be enough. You can’t always prevent fires, burglaries or other disasters so insurance coverage is still quite important.

While some people choose to purchase coverage through a specific jewelry insurance company, many people use their regular insurance company since jewelry can usually be covered through your homeowners insurance policy.

In some cases your jewelry may already be covered, but you’ll need to check the specifics in your policy to see if you need to add the coverage. Some homeowners policies exclude items or carry limits on items like jewelry, furs, and instruments unless you purchase special coverage so it’s important to discuss with your advisor.

When you contact Bradenton Insurance you should be thinking of the following questions: 

  1.        How much coverage is included with my normal homeowners or renters insurance policy?
  2.        What exclusions does the policy list? Are there any situations where my jewelry won’t be covered?
  3.        Do you require proof of loss? If so, what is required?
  4.        The value of precious metals and stones can fluctuate—will this change my insurance coverage?
  5.        How often should I provide updated appraisals?
  6.        Are there any available discounts on premiums?
  7.        How will claims be handled?
  8.        Is the full replacement cost of the item covered?
  9.        How do you determine the replacement value of antique or custom jewelry? 

Once you’ve settled on an insurance company, have your jewelry appraised and take photographs for your records. It is also smart to have jewelry reappraised every few years since in some cases the value can increase. You should also have a record of purchase receipts and any other pertinent documents.

It is wise to insure your jewelry and other valuables through your homeowners insurance policy whenever possible, but to do this you need to understand your policy and know if what you have is properly protected. When you’re looking for an insurance policy or adding coverage for jewelry, you need to also find out which scenarios are covered. Some insurance agencies cover theft and fires, but not loss or damage due to accidents, water damage or a flood.

Don’t risk losing your likely sentimental investment or treasured heirlooms—invest in an insurance policy that provides the coverage and protection you need. To learn more about insurance policies on Florida’s West Coast contact Bradenton Insurance today.

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