Jewelry Insurance in Jacksonville, FL
Your homeowners’ insurance policy will only cover jewelry up to a specific amount. If you have pieces that are worth more than the jewelry limit – which is typically right at $1,000 per piece -- you may want to consider scheduling these items or taking out a separate jewelry policy. This $1,000 limitation applies only to theft of jewelry. A good reason to consider a separate jewelry policy, is because it may help cover certain losses not covered by the homeowner’s policy such as misplacing/losing a piece of jewelry in addition to other things not covered by the homeowner’s policy.
The separate jewelry policy may be a better option as it will allow for higher limits and for more comprehensive coverage. A repair or replacement policy helps ensure that you receive a piece of jewelry back that is the same look and quality as the original piece. You will want to keep photos, receipts, appraisals, and descriptions of any piece that you insure to help the jeweler design a replacement.
Whether scheduling these items on a homeowner’s policy or purchasing a separate jewelry policy, you will need to have the insured jewelry professionally appraised. This provides, the value of the jewelry, a detailed description of the item, the stone’s clarity, the quality of the metal used as well as a colored photo of the item. Because jewelry does not depreciate like many other items, it’s smart to have your jewelry appraisal updated every two or three years.
Still have questions? Give one of our team members a call and we’ll discuss your specific jewelry insurance needs and help find the best policy for your budget.
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7807 Baymeadows Road E, Suite 301,
Jacksonville, FL - 32256