Jewelry Insurance

Protect those special items!

   Mother’s Day is coming up and you decide it is time to buy your wife something to show her how much you appreciate her. Something green, like her eyes. You work with a jeweler and create the perfect necklace.

   A few years down the road, you take the family out to the 4^th of July picnic at your church. You come home to find you have been burglarized. The TV, stereo, game console; and yes, that perfect necklace are all gone. The police give you a copy of the police report and tell you your insurance company will want that for the claim. Insurance! Of course! You have a solid homeowner's policy. Your stolen items can be replaced. Life is grand!

   You call your insurance agent. You explain about the break in. He asks you for an itemized list of what was stolen. You fill out the home inventory list he sends you. He calls back to let you know everything is covered, except the Mother’s Day necklace. Your policy only covers up to $2500 for jewelry. The necklace was custom made. That $2500 won't even come close! 

   What can you do to avoid that last part of the story? 

   You can call your agent today and tell him you want to add scheduled personal property protection for your special pieces of jewelry! This coverage will replace the items listed on your policy in any case of loss, including mysterious loss. And there is no deductible with this coverage. SPP can cover necklaces, wedding rings, pendants, bracelets. You can also add SPP for pieces of art, coins, furs, books or guns.  This coverage will insure each piece down to the penny, so you will need to provide appraisals for each piece. You should have your item(s) appraised every 3 years to keep up with the changing costs of metals and precious gems.  Certified appraisals should include a picture, serial numbers, descriptions and replacement value. 
This coverage will add to your premium, but if the unthinkable happens, 
it will be worth it! 


Visit Brockman Premier Insurance at www.wekeepuinsured.com for tips on your 
home, auto, commercial and life insurance. 

Insuring your jewelry

Protect those Valentine's Day Sparklies! 

  Picture it. Valentine's Day. Dinner at her favorite restaurant with wine or maybe even Champagne. You ask her if she wants to take a walk after dinner. You walk down to the bridge. And with the moon overhead, you get down on one knee and bring out that velvet box with the ring. She says "Yes!". Life is grand.
   Flash forward a few years. You have the house with the white picket fence, great neighbors and Junior is playing in the back yard with Fido. You surprise your lovely wife with an anniversary cruise (and your in-laws are taking Junior and Fido for the week!)  Life is grand.
   While you are on your trip, your house is broken into. Your big screen TV. Your computer. Your printer. Gone. Then your wife remembers - "I didn't take my wedding rings with me. I was afraid I might lose them on the ship!" She runs to the bedroom and sure enough, her jewelry is gone. Most of it is costume, but that wedding set- you had that custom made. You begin to worry. The police give you a copy of the police report and tell you your insurance company will want that for the claim. Insurance! Of course! You have a solid homeowner's policy. Your stolen items can be replaced. Life is grand!
   You call your insurance agent. You explain about the break in. He asks you for an itemized list of what was stolen.You fill out the home inventory list he sends you. He calls back to let you know everything is covered, except the wedding rings. Your policy only covers up to $2500 for jewelry. The wedding set was custom made. That $2500 won't even come close! You give your agent a piece of your mind. He tries to tell you he asked if you needed any special items scheduled out when he wrote the policy. You don't remember that 5 year old conversation. And what does "schedule out" mean anyway? Arrgghhh. Your wife is crying over her now irreplaceable rings. Life just lost a little of its grandeur!

   What can you do to avoid that last part of the story? 

You can call your agent today and tell him you want to add scheduled personal property protection for your wedding rings! This coverage will replace specific items listed on your policy. It can be wedding rings, pendants, bracelets. You can also add SPP for pieces of art, coins, furs, books or guns. What will you need? Appraisals for each piece. You should have your item appraised every 3-5 years. Most carriers will have a guideline for how recent the appraisal must be. Policies will insure each piece, down to the penny. Appraisals should include a picture, serial numbers, descriptions and replacement value. This coverage will add to your premium, but if the unthinkable happens, it will be worth it!

Questions on your Home, Auto, or Commercial Insurance?
Contact Brockman Premier Insurance  or call toll free at 877-987-8683 today
and let us Keep You Insured!

Personal property coverage

Protecting Grandma's China (and other knick knacks!)

It isn't as popular to pick out china patterns as it was when my parents were married. But many of us have inherited china, crystal and silver from our mothers and grandmothers. Is it covered in the case of a loss? That depends. If you have antique patterns, worth more than the everyday patterns of today, your policy may not cover the replacement. (Not that you can truly replace these family heirlooms.)
Most homeowner's policies will have an optional coverage called Scheduled Personal Property. If you have a single item/collection worth more than your coverage allows, you want to shedule the property out. For example- many policies will cover up to $2500 for a single piece of jewelry, or camera equipment. If you have an item/collection worth more than what is covered, you will be out of luck in the case of a loss. The policy will not pay more than the coverage calls for, regardless of the proof you may show. Ask your agent what your limits are. 
Scheduled Personal Property will offer additional types of coverage your basic Personal Property coverage might not. There is no deductible, and most will cover theft or loss of any kind. There are exclusions such as wear and tear and war. 
Other items to consider scheduling out would include:
* Engagement and wedding rings (any jewelry if a single piece is above the included limit)
* Coin collection 
* Gun collection 
* Electronics
* Camera equipment
* Furs (as politically incorrect as these are nowadays, there is still coverage)                               
To put a Scheduled Personal Property endorsement in place, you will need a certified appraisal, dated within the last 3 years. Pictures are a good idea as well.  This coverage is in place to make sure you are compensated for the Replacement Cost in the case of a loss. I know many things can't be "replaced" if lost or stolen,  but many things can be. 
This is what insurance is for. Use it!
Contact your Insurance agent to find out about this valuable coverage. 
Thanks for reading!

Insuring Jewelry

Should I Insure my Jewelry?

   Did you get a shiny, new bauble for Christmas? Or are you January baby, with a new Garnet gemstone ring or necklace? Should you worry about insuring your new item?
   Most basic Homeowners policies will cover up to $1500 in jewelry. I don't know about you, but that would cover most of my jewelry. But that is the total amount for the policy. It isn't what can be paid out for each piece. So, in my case, I have my wedding rings "scheduled out" separately on my Homeowners policy. This means if my covered rings are lost or stolen, I will receive compensation for the Appraised  amount, without diminishing the amount of my basic jewelry coverage. 
   This is the entire reason to have insurance in the first place. It is meant to "make you whole" again in the event of a loss. Your jewelry counts as a loss. But you need to make sure you have the right coverage. Check your Home policy. If you have just the basic coverage, again- it will cover up to $1500 on most policies. Some have what is called a Blanket endorsement, sometimes up to $50,000 for special valuables. But even these will only pay out up to $10,000 for one item. This may be adequate for many people. But is it for you?
   Talk with your Insurance Agent (that is what they are there for!) about the possibility of Scheduling certain valuables on your Homeowners policy. It will entail providing a Certified Appraisal for covered items and paying extra premium. The extra premium isn't too much depending on the amount you are scheduling out. But know your choices so you can make an INFORMED decision!
Thanks for reading!
Nancy Brockman

If you have questions about your Home, Auto or Commercial Insurance,
please call toll free 877-987-8683 or click The Brockman Agency