The holidays are a great time to reassess whether you have any new big ticket items to add to your insurance policy.
Jewelry is automatically covered under personal property but usually only up to a specified dollar amount. Jewelry can be easy to steal, and insurance companies usually cap jewelry coverage at a low amount. The most common limit for theft of jewelry is $1500, but your policy may vary.
You have a couple of options to better protect your precious jewelry. You can endorse the policy to provide higher limits or you can add a rider to your homeowners insurance policy. Most insurance companies will ask for an appraisal dated in the last 3 years for items over $10K. Otherwise, you just need to provide a detailed description of the item and a value.
Two of the most common insurance claims for jewelry are theft or a prong breaking that results in the diamond or other gem falling out. By scheduling, you will have coverage for both of these risks.
Your Friends In The Insurance Business at Midland's Ieuter Insurance Group can answer your insurance coverage questions.
For all your insurance needs, visit us at https://www.ieuter.com
Ieuter Insurance Group - 414 Townsend St Midland MI 48640
(989) 487-1758
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