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 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