Jewelry

Jewelry Policies

If you own valuable articles like jewelry, you should be aware of some limitations that exist in all policies. Basic policies provide minimal coverage for theft of jewelry and many provide no coverage at all for accidental loss or misplacement. There are several options available. We very strongly suggest that you talk with us about your choices.

In most cases, basic coverage is just $1,000 for theft of jewelry. Most policies allow for that amount to be doubled or tripled inexpensively. For higher valued items, different options might be in order.

Jewelry can be separately itemized on a policy. This is called Scheduling. The coverage is very broad and includes coverage in cases where an item is lost or accidentally misplaced. No deductible applies. Losses are settled on an Actual Cash Value basis which means that you are reimbursed for the actual cost to replace your property with a similar item subject to a maximum of the appraised value.

Some companies offer an option called Agreed Value Coverage. Under the terms of this coverage, the insurance company agrees in advance on what amount will be paid in the event of a loss.

There is also a choice called Blanket Coverage. This enables you to purchase very comprehensive coverage for your jewelry as a category of property but does not require that you present a list prior to adding the coverage. A maximum limit for any single item applies.

In order to determine which is the best choice for covering your property, we suggest that you obtain up-to-date appraisals for your jewelry and then talk with one of our insurance professionals here at Fred C. Church.

Similar coverage is also available for other kinds of valuable articles including furs, fine arts, collectibles, cameras and so forth. Feel free to call on us anytime.