Jewelry Insurance: A Worthwhile Expense
There are many people who own significantly valuable pieces of jewelry that haven’t even considered the purchase of jewelry insurance. To those of you in this position we say this: do it now. Insuring your jewelry can really prevent a whole lot of heartache in the instance that you lose your engagement ring or that dazzling diamond bracelet. Sure, it can’t necessarily replace the sentimental value, but it’ll save you thousands of dollars for just cents a day.
We recommend that pieces appraised at $2,000 or more are insured, whether it be with your home insurance or a company that we like to recommend called Jeweler’s Mutual. The latter is highly preferred, as your standard homeowner’s policy often provides only limited coverage for jewelry. This particular form of insurance covers loss, theft, damage, and even a mysterious disappearance. There are no deductibles, and it’s really an affordable way to protect your valuables. If something should happen to your engagement ring, with an insurance appraisal of around $12,000 for example, you could save yourself having to purchase a whole new diamond by simply spending around $120 per year for the insurance.
While losing or damaging a beloved piece of jewelry is the last thing you want to think about, it’s always better to be safe than sorry. It is recommended that you have your jeweler do a regular inspection of your pieces. Checking for normal wear-and-tear such as loose stones and worn prongs can help to prevent a much larger problem. You can always come and visit us; it’s a great opportunity to have your jewelry cleaned as well!
