Three things you shouldn’t assume when it comes to jewelry insurance

Insuring your jewelry is important to prevent financial loss if you own valuable jewelry. Fortunately, you can protect the value of your jewelry with an insurance policy from The Insurance Outfit. We provide jewelry insurance to consumers in Chester, NJ.

The following are three things you shouldn’t assume when it comes to jewelry insurance. 

A jewelry insurance policy only provides coverage when your jewelry is stolen.

Jewelry insurance can cover your jewelry’s value in a wide range of scenarios. In addition to covering your jewelry when it is stolen, this type of insurance policy also may offer coverage when it becomes lost or damaged.

You don’t need jewelry insurance if you have renters or homeowners insurance.

Renters and homeowners insurance may indeed offer some coverage for jewelry value. However, the personal property coverage limits on a renters or homeowners insurance policy may not be high enough to cover the full value of your jewelry. 

When you buy a jewelry insurance policy, you can specifically purchase a certain coverage amount that you know offers full coverage for even your most valuable jewelry items. 

Having your jewelry appraised before taking out a jewelry insurance policy is unnecessary.

A jewelry appraisal is always a good idea when you want to buy jewelry insurance. When you appraise your jewelry’s value, you know how much coverage you need. This way, you can avoid either overinsuring or underinsuring your jewelry items. 

If you’d like to get a quote on a jewelry insurance policy, call us at The Insurance Outfit. We can help you to explore your insurance coverage options in Chester, NJ.