Another Valentine’s Day has come and gone just like every other holiday and special moment days. Jewelry is often bought during these holidays and may be valuable to you or you may have collected a lot of small items that have value in the aggregate over the years. If you want to keep these valuables safe from being stolen, misplaced and lost you must provide a jewelry appraisal to your insurer to “schedule” these items on your Home or Renters Insurance Policy. The item will either be replaced, repaired or you will be given the Dollar Limit Scheduled for that item when claimed for a loss.
Your homeowner's policy will only cover these items as a result of a fire and proof of the item can be tough to prove to the insurer without receipts or pictures of the items. Insuring and safeguarding your jewelry by scheduling this coverage on your homeowner’s policy is one more way to provide piece of mind. We hope that these tips will provide you with guidance on choosing the best policy for your needs. At the very least, you will have a proper inventory and appraisal should you need it. Also, why not take the time this week to confirm that the women in your life have suitable insurance in place to protect their jewelry and other valuable items?