Are Your Baubles Protected Enough?

As the holiday season has come to an end, many women now have additional jewelry items they can add to their jewelry collection. The holiday season is the time of year when the gift of jewels is on many lists. Society has become more concerned with the quality of the jewelry that it wears, and so many of the jewelry pieces that are received are worth a small fortune.

When any jewelry piece is tucked into its slot on in a jewelry box the owner automatically assumes that the piece is safe, but between natural causes and those not so natural causes, no jewelry item is ever safe. Homeowners often believe that when they fill out their homeownership insurance policy and list the valuable items in their home that they are protecting their precious baubles, but the truth is that the $1000 deductible may not be all that it appears. Many people are simply not aware that the $1000 deductible is not just for one single jewelry item, but for all jewelry items in total.

As stated before, people in today’s society is more aware of the quality of the jewelry that they wear, and a $1000 deductible may not even cover the money that was spent on one single jewelry item. So what can one do? Ask for a separate rider attached to your homeowner insurance policy which will allow for you to pay for additional 100% coverage on the jewelry items that you deem most valuable. While you will have to pay for these items to be additionally insured, you’ll be grateful should you ever find yourself in the position to where you need to make a claim. Also, be aware that while you may list a jewelry item on attached rider for “x” amount of dollars, this does not necessarily mean that you will receive the amount you indicated, because the insurance company is going to pay the replacement value, which may not equal what was originally paid for the item.

Other articles of interest:

• Buying Diamonds Online
• Should You Insure Your Diamond Engagement Ring?
• Things to Consider When Insuring Your Wedding Ring