What Affects the Cost of Jewelry Insurance?

Many people think that the overall jewelry insurance cost is very high, which may put them off carrying a policy on their valuables. However, in many areas of the United States, jewelry insurance is quite reasonable and can be had for only a fraction of the estimated value of the piece of jewelry. Especially if you own one or more very expensive pieces of jewelry, this is often a small price to pay for the knowledge that your expensive items are safe. Here is what you need to know about jewelry insurance costs.

Cost Depends on the Value of the Jewelry

The cost of jewelry insurance is generally determined as a percentage of the total value of the jewelry. This means that you must provide receipts or other evidence to your insurance agency.

Jewelry Insurance Provides Additional Coverage

Jewelry insurance is designed to provide coverage in addition to your regular property insurance. This means that part of the value of your jewelry may already be covered by your existing insurance.

Blanket Coverage Is Good for Larger Collections

If you have a relatively large jewelry collection, consider getting the collecting appraised as a whole rather than as individual pieces. This saves time when submitting a list of items to your agent.

In order to more accurately determine the jewelry insurance cost for your collection, get your jewelry appraised by a professional.

 

 

photo credit: woven white ribbon-tie choker (license)
This post was written by , posted on February 6, 2015 Friday at 2:30 pm

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