Buying Jewelry Insurance

If you have homeowners or renters insurance, your jewelry is already covered up to a certain amount. Make sure you let your insurance company know the value of your jewelry so they can advise you about buying additional jewelry insurance. You can insure you jewelry against instances such as loss, damage and theft. Many people don't think they can claim broken or destroyed jewelry from activities such as sports, power tools, chemicals and solvents, swimming pools and hot tubs, or any activity where jewelry can be damaged. But just like anything else you insure, your jewelry can be covered from these instances as well.

Buying jewelry insurance
Jewelry insurance is available in addition to your homeowners or renters insurance. It may or may not be tied to your homeowners or renters policy, but it serves as additional coverage, so you're safe either way. Before you buy jewelry insurance, do your research. Compare policies and how claims are reported. Just because a plan is inexpensive, doesn't mean it's a good policy. Some insurance companies make it almost impossible to file a claim, requesting impossible details and unnecessary proof. In order to insure your jewelry, you should have a receipt if possible, a photo of your jewelry, and a thorough appraisal.

Appraisals
You should have your jewelry appraised prior to buying coverage. This will provide a written document of the value of your jewelry, so your premium will be properly determined. Plus, with a detailed description, photographs and accurate value of your jewelry, there will no discrepancies when filing a claim. Your appraisal should include the following:

• Complete and accurate description of your jewelry including the style, characteristics, weights, grades and measurements.
• Statement about any unusual treatments or flaws that might come with your gemstones.
• Statement as to whether your stone is imitation, natural, synthetic, etc.
• Name, manufacturer, workmanship, metal, mounting and karats.
• The value of your jewelry
• Photograph of the item being appraised.

Always make sure your appraisal is prepared by a certified Insurance appraiser. Ask to see certification.

How to prevent theft, loss or damage.

Theft
Keep your jewelry in a safe place like a jewelry box in your closet, a safe, or a hidden locked box. Your dresser drawer or jewelry box will be the first place a thief will look. It would be a extra safety measure to keep your bedroom closet locked as well.

Make sure your windows and doors have quality locks, and consider a security system. Most thefts occur during the day when people are away at work because burglars think they can gain access to your home without being caught. You need to prepare your home so they wont even try to gain access.

When you are on vacation, have a neighbor collect your mail and newspapers, and consider leaving the porch light and an inside light on in the house. This creates the illusion that someone is home. If you'll be away for a long period of time, have someone mow your lawn, make sure your jewelry is in a secure location and consider having the post office hold your mail until you return. You want to draw as little attention to your empty home as possible.

Loss
When you aren't wearing your jewelry, make sure it's being put back where it belongs. Don't leave your jewelry on tables or counters where they can be knocked onto the floor or down a drain. Some jewelry may go unnoticed and be sucked up the vacuum cleaner, or simply disappear.

If your jewelry is bothering you during the day, don't throw it in an obscure pocket in your purse. Consider keeping a jewelry pouch in your purse so you can keep your jewelry in a secure place until you get home. Remember to put your jewelry away when you get home.

If you are traveling, don't pack your jewelry in luggage that will be handled by someone else. Pack your jewelry in your carry-on luggage so you will be able to keep an eye on it. Keep your jewelry in a hotel room safe or a hotel safe. Don't leave it on the bathroom counter or out in the open where it can be vacuumed up, swept away, or worse, stolen.

Damage
Don't wear your jewelry during strenuous activities. Gemstones can break if hit just right, precious metal can scratch easily, and you can even loose your jewelry in water activities such as water skiing. So be careful, and leave your jewelry at home on these active days. Some of these activities include yard work, manual labor, sports, housework, construction, working on the car or handling harsh chemicals, etc.

If your jewelry is damaged, gather the pieces and take a photograph of the jewelry remains if it's possible. Write down what happened to cause your jewelry to be damaged, and report claims as soon as possible. Remember to get authorization before having your jewelry repaired, as not all claims will be approved.

Don't forget to have your jewelry inspected often. Settings can become loose with wear, and it's easier to lose stones. Whenever you stop into a jeweler, have them check the setting and have the piece of jewelry cleaned. It's easier to remember to do this for jewelry you wear all the time, like a wedding ring. You have the piece on you most of the time, and you can just stop into a jeweler when you see one. But those pieces you wear less frequently, or for special occasions, it harder to remember to bring these in. So the next time you go out shopping, bring your jewelry in and drop it off before you shop around. Just don't forget to pick up your sparkling jewelry before you head home.

Jewelry Insurance References

JCRS - http://www.jcrs.com/
JIBNA - http://www.insure-jewelry.com