Damage, loss, or theft of jewelry is normally covered by a separate insurance policy. Only when a condition covered by the policy, such as a fire, is to blame for the damage to the jewelry will it be covered.
Separate insurance coverage for jewelry often costs 1% to 2% of the item’s value. As an illustration, if your ring is worth $10,000, you might spend $100 or $200 a year to cover it.
Jewelry is covered under the personal property section of homeowner’s insurance.
In that instance, there is no extra charge for jewelry coverage. However, if you own expensive jewelry that will take up the majority of your personal property limit, that coverage might not be adequate for you.
This insurance policy is offered by jewelry stores as they are after complete protection of the items sold in their businesses. This is part of their package.
A business that specializes in insuring valuables can sell you a stand-alone jewelry insurance policy. A separate jewelry insurance policy has the benefit of keeping claims off your house insurance record, which keeps them from impacting your rates in the future.
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