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<p><span style="color: #000000;">Got a jewelry box that could make a treasure chest blush? Or maybe you found the Heart of the Ocean necklace from Titanic. No matter what kind of jewelry you’re holding onto, it deserves to be protected, doesn’t it?</span></p>
<p><span style="color: #000000;">But maybe you think it costs too much to insure—it really doesn’t. Or maybe you don’t think it’s worth the hassle—it is, and it’s actually pretty simple.</span></p>
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<h3><span style="color: #000000;">What Is Jewelry Insurance?</span></h3>
<p><span style="color: #000000;">Simply put, jewelry insurance is a policy designed to cover your jewelry (any kind you specify – from rings to Rolexes, it's all good). </span></p>
<p><span style="color: #000000;">In exchange for the premiums you pay, your insurance carrier will reimburse your financial losses – or even replace the item – in the event of theft, mysterious disappearance, or damage up to its specified value.</span></p>
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<h3><span style="color: #000000;">Is My Jewelry Covered under Homeowners Insurance?</span></h3>
<p><span style="color: #000000;">Yes, but coverage under your homeowners policy is limited to only a small number of causes, like theft, and has a cap of $1,500. </span></p>
<p><span style="color: #000000;">If you want to make sure you’re covered for the full value (should a super-expensive bauble get stolen, for example), you’ll need an additional policy or endorsement.</span></p>
<p><span style="color: #000000;"> <img src="https://assets-us-01.kc-usercontent.com/0542d611-b6d8-4320-a4f4-35ac5cbf43a6/d35fe27d-8368-4388-a91d-5dac6c4b9e81/jewelry-insurance.png" alt="cover your jewelry" /></span></p>
<p><span style="color: #000000;">A more comprehensive coverage option is to schedule personal property coverage. This covers a greater number of risks and will generally cover the full value of higher-priced items that exceed the regular policy's limit. </span></p>
<p><span style="color: #000000;">The scheduling process involves listing each specific item to be covered and its value – determined by an appraisal.</span></p>
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<h3><span style="color: #000000;">What Exactly Does Jewelry Insurance Cover?</span></h3>
<p><span style="color: #000000;">Most everyone's main concern, when it comes to jewelry, is potential theft - but they're also worried about losing it. Luckily, jewelry insurance covers the following, for all types of jewelry:</span></p>
<figure data-asset-id="9e379d32-e95b-44f3-a6a3-b2818a01c1fc" data-image-id="9e379d32-e95b-44f3-a6a3-b2818a01c1fc"><span style="color: #000000;"><img src="https://assets-us-01.kc-usercontent.com/0542d611-b6d8-4320-a4f4-35ac5cbf43a6/e4be8a28-9708-458b-b313-b8e0e4389129/what-does-jewelry-insurance-cover.png" data-asset-id="9e379d32-e95b-44f3-a6a3-b2818a01c1fc" data-image-id="9e379d32-e95b-44f3-a6a3-b2818a01c1fc" alt="what does jewelry insurance cover" /></span></figure>
<h3><span style="color: #000000;">How Do I Insure My Jewelry?</span></h3>
<p><span style="color: #000000;">First, you'll want to contact an insurance agent. They’ll run you through all the ins and outs of the entire ordeal, including:</span></p>
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<li><span style="color: #000000;"><strong>Know what jewelry you want covered. </strong>Then call up your independent agent and let ‘em know — they’ll help you get things rollin'. </span></li>
<li><span style="color: #000000;"><strong>Schedule an appraisal. </strong>Every local jeweler probably has expertise in appraisals – your agent might even be able to get you hooked up with one. Your insurance company will need to know the exact value of your jewels (based on quality/cut/etc.). This process (usually) isn't free, but it's a small price to pay to get to the protection your shiny things need.</span></li>
<li><span style="color: #000000;"><strong>Fill out the important paperwork</strong>. Submit the official, verifiable documents from the appraisal to your insurance company.</span></li>
<li><span style="color: #000000;"><strong>Hit "redial" and chat with your agent again.</strong> They'll be able to help you take it from here. </span></li>
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<h3><span style="color: #000000;">How Much Does Jewelry Insurance Cost?</span></h3>
<p><span style="color: #000000;">It depends on the coverage you want, your bling’s total value and location, and a few other factors. </span></p>
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<p><span style="color: #000000;">"Increasing the theft limit on your homeowners insurance from $1,500 to $10,000, for example, would only add about $25 to your premium."</span></p>
<footer class="blockquote-footer"><span class="font-black" style="color: #000000;">Paul Martin</span></footer></blockquote>
<p><span style="color: #000000;">The cost to insure a single piece of jewelry will be around $1-$2 for every $100 in replacement cost. If the jewelry in question would cost around $10,000, then the premium would be around $150, on average. </span></p>
<p><span style="color: #000000;">If you've got lots of big items scheduled, though, the cost can add up to thousands or even millions per year, if you're some kind of Hollywood A-Lister. </span></p>
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<h3><span style="color: #000000;">Is Jewelry Insurance Worth the Cost?</span></h3>
<p><span style="color: #000000;">If all your jewels and jinglies have a value of over $1,500 and you tend to drop, lose or misplace items on a regular basis, then yes, it’s completely worth it. </span></p>
<p><span style="color: #000000;">Also, Martin points out that a lot of jewelry has sentimental value. So, protection could be worth it based on the fact that the item(s) have meaning for you, alone.</span></p>
<p><span style="color: #000000;">If you’re still weighing your decision, it’s best to just ask yourself, "How easily can I afford to replace an item or all the items if something happens to them?" If the answer is “Not easily,” get the insurance.</span></p>
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<div align="center" style="text-align: justify;"><span><span style="color: #000000;">To read the full article, </span><a href="https://smallbiztrends.com/2020/09/10-tiny-pivots-to-make-your-small-business-more-effective.html">click here</a><span style="color: #000000;">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]