Which Policies Cover Jewelry?

It’s not entirely uncommon for residents of Chester, NJ, to own a few valuable items. Jewelry is something humans have appreciated for eons. Because of that, it can be devastating when something happens to your jewelry, and that’s exactly why you want to have it insured. The Insurance Outfit offers jewelry insurance, but before you buy it, you should probably know about which kinds of insurance actually cover precious items.

Homeowner’s Insurance

Typically speaking, a homeowner’s policy will afford some coverage to valuables in the home, and that can include jewelry. It’s important to understand that the exact nature and limits of this coverage will depend on the specifics of the plan. A typical jewelry coverage in such a plan will be around $1,500 for theft and less than $5,000 for damage. 

Renter’s Insurance

Renter’s insurance offers similar coverage to what you see in homeowner’s insurance policies. In this regard, the policies are designed with the same intent. The main difference with renter’s insurance is that the coverage limits will be based on the amount you choose to insure your property. If the policy is for $20,000 of coverage, it will typically have a lower maximum for jewelry than a policy for $100,000 of coverage.

Jewelry Insurance

As the name implies, jewelry insurance is a specific policy designed to protect your precious items. As always, the details of any plan will vary, but the gist is that jewelry insurance will more precisely match the value of your jewelry. Plans can be designed to repair or replace the jewelry, and the items can be insured for actual cash value or replacement cost. Which is best depends on your circumstances.

Overall, jewelry insurance is the best way to be sure your valuables are properly covered. If you want to review the options available in Chester, NJ, have a chat with The Insurance Outfit. One of our reps can help you browse policies and find something that gives you the protection you need.