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Say “I Do” to Jewelry Insurance

Say “I Do” to Jewelry Insurance

You don’t think twice about insuring your home, your life, or your car–so why don’t you have insurance policies to cover your jewelry, too? Jewelry insurance is more important than you think.

Homeowners Limits Coverage

If you think your jewelry (or art, guns, silver, and furs) is covered with your homeowners policy, you’re right–but only up to about $2,000. Jewelry can be easily lost or stolen, a basic policy will not cover the replacement cost of the piece(s). If, heaven forbid, your engagement and wedding rings disappear on your honeymoon, you’ll only get that couple of thousand back from your insurance company. And that’s only if they were stolen–not just lost.

Insuring Your Jewelry

It’s really easy to get the coverage you need for your jewelry–and the peace of mind that comes with it. The premiums for a separate policy, called a personal articles policy, is inexpensive–about $200 yearly for $20,000 in coverage. Your insurance agent at Branco Insurance Group can guide you through the process in more detail, but here’s how you get started.

  • Provide your agent with a Bill of Sale for the pieces you’re insuring. The purchase receipt is considered a Bill of Sale.
  • If you don’t have one, or inherited the piece, you’ll need to provide a current appraisal. Your jeweler can appraise jewelry and will give you a written copy of the valuation.
  • Your Branco agent will keep a copy of the appraisal and write a policy that covers you against any loss of the insured jewelry. Most of these personal articles riders do not have a deductible.

Appraisal Components

Here’s what the appraisal will cover.

  • Photos of the piece from a variety of angles, including any stamping that indicates metal purity.
  • Weight and purity of metal, and the current value (they’ll use a quarterly or yearly average to account for fluctuations in the market).
  • Detailed description of the main stones, including the four C’s–color, cut, clarity and carat. Any flaws or inclusions are noted.
  • Detailed description of the piece: age, style, manufacturer (if it’s Tiffany that’s an intangible increase to the value), and condition.

You’ll get a couple of copies, and the jeweler will keep a copy in their files.

Give Branco Insurance Group a call at 203-723-8500 to discuss your jewelry insurance needs.



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