What is Jewelry Insurance, and What Does it Cover?

You are taking stock of the jewelry under your possession, and you are just thrilled by what you see. From the ruby necklace heirloom you got from your grandma to the engagement ring on your finger, these pieces of jewelry evoke fun and memories. You might think that the jewelry box is the safest place, but what if you lose your precious jewelry through burglary or fire? Folks, that’s where jewelry insurance from The Insurance Outfit in Chester, NJ comes into play.

What is jewelry insurance?

You might think that standard home insurance covers your jewelry, but this insurance policy only provides limited protection. Home insurance protects your jewelry from perils like fire, theft, tornado, and vandalism but usually limits the coverage to a maximum of $1,500, especially for theft. Why is the limit so low? Because jewelry is precious and so easy to steal!

Given the value and attachment you have for jewelry, you can’t take chances by just relying on home insurance. Stand-alone jewelry insurance gives optimal protection for your valuables by giving higher and broader coverage compared to home insurance.

What does jewelry insurance cover?

The thought of losing that valuable ruby necklace or engagement ring doesn’t sit well with you. But because you can’t prevent perils 100%, you need jewelry insurance to protect your high-priced items. Jewelry insurance covers the below:

  • It covers the loss of your jewelry through theft, accidental loss, and damage to your jewelry
  • Covers part loss of your jewelry. For instance, if you lose one diamond earring
  • Covers your jewelry even on international trips

There is the obvious misconception that home insurance covers your jewelry just like other assets. The truth is that home insurance gives little coverage for your jewelry. That said, you need jewelry insurance for optimal protection. Ready to buy jewelry insurance in Chester, NJ? Please get in touch with The Insurance Outfit for a competitive quote.