IS MY JEWELRY COVERED ON MY HOME OR RENTERS INSURANCE POLICY?

Jewelry

There are a few ways to insure your jewelry.  Jewelry insurance can be purchased as an extension (also called a “rider”) for your renters’ or homeowners’ policy or on a separate Inland Marine policy. Renters’ and homeowners’ policies cover the stuff in your home, but only up to a certain dollar value: Expensive, special items like jewelry, watches, furs, and art are guaranteed through scheduled personal property coverage — an insurance policy extension that covers particular items.

Anyone with jewelry that has high material or sentimental value — whether your wedding and engagement rings cost $500 or $50,000, an insurance policy is a way of honoring not just their financial value but what they represent. The sentiment behind your rings is priceless, but the rings themselves can be replaced — if they’re insured — in the event that something happens to them.

You’ll need to provide your receipts, as well as an appraisal (which costs a small fee; you can get an appraisal from a certified gemologist)

Questions To Ask Before You Choose a Policy:

  • Is the ring covered if you lose it accidentally, or only if it’s stolen?
  • How will the company replace the ring — with a check? Or will they require you to purchase a replacement through a specified jeweler?
  • What if it’s a vintage ring or other unique piece? How will the quality and size of your diamond — and that of a replacement if needed — be documented?
  • Is the ring insured to full cost or a fraction of it?

 

Don’t Get Lost Without The Right Coverage:

If you don’t currently have your higher valued jewelry, watches, furs, or artwork scheduled on your homeowners’, renters’, or inland marine policy, you may experience a double whammy should you have a loss.  It is difficult enough to lose an item, but you don’t want to be told it is not covered on your home or renters policy as well.  Please call Oldham & Associates Insurance to learn how you can get your items covered today!

 

Oldham & Associates Insurance 469-519-1032

Combine Your Property and Casualty Insurance to Save Money

When you combine your auto insurance, home owner’s insurance and umbrella insurance policies all with the same carrier, you can save huge dollars on the cost of your premium. Better yet, we have major insurance carriers that even merge your umbrella insurance policy into your home owner’s insurance policy as one policy. This saves even more.

I recently placed a customer that was with another major national carrier - that has “captive” agents – who had received notice that his home owner’s policy was going up 300 dollars from 2011 to 2012 plus his umbrella policy was going up 100 dollars to 500 dollars. I was able to move this customer into a Travelers home owner’s insurance policy with the same one million umbrella my customer had before and the combined premium for 2012 is actually the same as the customer’s home owners was last year but, the umbrella insurance was included!  This customer saved 29% over their previous insurance for the same coverage with one our insurance carriers.  We can’t guarantee that you’ll save 29% because you might save even more.  Stop by, email us or call today. – Zac Oldham