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Why are you buying jewelry insurance?

Author: Nicon Ch
by Nicon Ch
Posted: Aug 17, 2019
jewelry insurance

Have you ever thought about buying insurance for your precious jewelry, which is sometimes expensive, so we take extra care. But no matter how careful you are when using jewelry, there is always the possibility of it being stolen, lost or damaged. Jewelry insurance is essential and is useful in this case. If something goes wrong with your jewelry, you can rest assured that it can be repaired or replaced. Here are some of our tips on jewelry insurance.

All Types Of Jewelry Can Be Insured

From your precious wedding ring to the gorgeous watch that your mother gave you as a birthday gift - any and all types of jewelry pieces can be insured. Insurance companies can offer coverage for items such as rings, watches, earrings, bracelets, necklaces, pendants, charms, and even smart jewelry.

You Have To Get A Jewelry Insurance Quote

Similar to all other types of insurance, you will have to obtain an insurance quote. An appraisal of the jewelry piece will be completed to ensure that the insurance quote is appropriate. The appraisal lists a detailed description of the item and provides an opinion of value based on the jewelry's characteristics. Keep in mind, you will want to go to a professional and reputable jeweler for an appraisal to get the best evaluation of your jewelry piece. You can search for more than one insurance quote at a time.

Read And Understand The Coverage

Fully understanding what is written in your insurance will save you from any hassle when it’s time to use the insurance. Some insurance may not include full replacements or they may require a deductible prior to any repairs or replacement. The more you know about what the insurance offers, the easier it will be when it's time to file a claim.


Calculate your Risk of property loss, including the probability you will lose those items and the value of your "stuff" at risk. Next, choose the amount of liability coverage you require. Then, compare the two in order to decide on your deductible. Finally, put all the factors together to calculate how much renters insurance is worth to you. Depending on your insurance company and state regulations, you might not be able to find exactly the plan that fits you, but this model should assist in getting you as close as possible if you do decide to purchase renters insurance.

Lost, Stolen, Damaged

Protect your jewelry from loss, theft, or damage with comprehensive insurance. Comprehensive insurance is the best insurance to have as it covers the most severe situations like when you leave your jewelry out somewhere, it gets stolen, or if your jewelry cracks. Jewelry insurance companies will replace the same jewelry piece or with a comparable piece, should the exact jewelry piece not be available anymore.

Many times, jewelry is purchased with a warranty. Unlike insurance, the warranty is limited. In addition, warranty is unlikely to replace the jewelry in the event of theft. With insurance, you don't have to worry about wearing jewelry.

Of course, there's no need to buy insurance if you're buying cheap jewelry.

About the Author

I am a blogger, I have been working since 4 years.

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Author: Nicon Ch
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Nicon Ch

Member since: Aug 21, 2018
Published articles: 63

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