We have all learned to insure our most expensive possessions, such as a car or home. But we never consider using this same approach to insure our jewelry until now.
To many Chester, NJ newlyweds and long-time married couples, an engagement ring is the most cherished jewelry piece in their possession. Often, it defines their relationship, but the ring is susceptible to damage, loss or theft due to its daily usage. And you can forget about securing the engagement ring in a wall safe as jewelry is the most common stolen item in most home invasions. The idea of jewelry insurance is intriguing, but still an unknown concept to all.
So, let’s discuss how jewelry insurance works to protect your expensive investments:
Why Do I Need Jewelry Insurance
It’s easy for sentimental or valuable jewelry to go missing in a blink of an eye. We all have taken off our rings, watches or necklaces when playing sports, going swimming or taking a shower and suddenly they’re gone. Unfortunately, this happens far too often, but you should never be afraid to wear your jewelry in public because of the fear that something bad is going to take place. That wouldn’t be the case if you acquire jewelry insurance from The Insurance Outfit to help ease your mind.
What Does Jewelry Insurance Cover
The biggest misconception about insuring jewelry is that it’s covered in a homeowner’s insurance policy. Unfortunately, under the terms of the agreement, jewelry is considered a non-essential household item and usually gets the least amount of coverage from a standard policy.
The essence of jewelry insurance is to cover the full value of the item in the event of damage, theft or accidental loss. The first two terms are self-explanatory as all damage or theft will be repaired or replaced under the terms of the agreement. The last term, accidental loss, does have a specific meaning.
Accidental loss is when your jewelry has been lost by mistake or if the piece is beyond repair as a result of an accident. Usually, a jeweler will have to confirm the item cannot be repaired.
It’s devastating to have a piece of jewelry that represents a special moment in your life suddenly get lost, damaged or stolen. Come in and speak with an agent with The Insurance Outfit of Chester, NJ as they can design a jewelry insurance policy that fits all of your needs.