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What To Include When Getting Home Insurance For Jewelry

Jewelry is one of those items that you tend to collect over the years and often it will sit in the jewelry box on the dresser. The problem is the jewelry is usually not very safe where it is positioned and this means it is going to be a prime target for thieves to come in and take the jewelry and when you go to file a claim with your insurance company you may find out that they only cover a fraction of the cost of the jewelry. Since that is the case, you will need to know more about what you need to include when you are looking at home insurance for jewelry only. By knowing this information it will be easy for you to have a great plan that will cover your jewelry in case it is lost or stolen.

The Type Of Items – Including Manufacturer

When people insure their jewelry they will often just mark the pieces down as a ring or gold necklace with a brooch. This is a great way to track the items, but it is a little bit on the smaller side and may not provide the insurance company with an accurate estimate as to what people have in the way of jewelry. So when people are looking at the home insurance for jewelry they will want to include several different items and the more specific they can get the better off they will be.

  • Manufacturer of the piece of jewelry will be one item that people will want to include when they are getting the list made out of the jewelry. Yes, people may think this is odd to say, but the manufacturer of the piece and the stones can make a tremendous difference in the cost of the insurance plan that people are getting. For example, if people put down the LeVian chocolate ring with diamond it would be better and show the value of the piece compared to putting down the gold right with diamond.
  • Weight of the piece and the size of the stone that is in the item is something else that people are going to want to include. This does not mean to get out a jewelers scale and weigh each item, but it means more of the karat of the gold, percentage of silver, and even the karat of the stone or the weight. This way the insurance company will be able to provide an accurate estimate of the replacement value of the jewelry.

Value Of The Jewelry At Purchase

This is important to have on file because you will generally get this when you buy the item and get the receipt. You will find the receipt has a tendency to show off the value of the piece that it was bought at during that day. Now, this does not mean that you will be getting that much back as jewelry does have a tendency to go up in value if the pieces are pure. However, this definitely gives you a good value of the piece and makes it easier for you to know if the piece is valuable or not.

At the same time if the piece is older or one that you have inherited you will want to go to a certified appraiser. When you go to the appraiser you will want to get a current evaluation for the price of the jewelry. This way you will have a current evaluation on the price for the home insurance for jewelry plan that you are going to be getting. Without the evaluation being done you will have some problems getting the value of the older jewelry from the insurance company if it is stolen. Find out about Jewelry valuations for insurance replacement.

Pictures Of The Jewelry

They always say that pictures speak a thousand words and that definitely holds true when you are looking at jewelry. When you take pictures of the jewelry you will have photographic proof that you have the jewelry and you can even have the pictures dated as well. This will provide you with an inventory of the pieces that you have inside of your home and know that these pieces will be the ones that you have proof of ownership.

Some insurance companies will insist that you get the pictures to have the proof for the plan. So this is definitely something that you are going to want to consider because the pictures definitely provide you with the proof and can even be uploaded to a separate file on the Internet and submitted to the insurance company as well. This way you have a backup copy of the jewelry images and the insurance company has a copy of the pictures as well in case of a fire happening and destroying the pictures you had on your camera.

Copies Of Purchase Receipts

If you have bought the pieces new you will find that you can get a copy of the receipt. This can include the copy of the receipt from an auction house even if you bought from an auction or it could be the estate evaluation copy. No matter what, these are going to help to prove that you were the owner of the pieces and in some cases, it will even have the estimated value on the receipt. If nothing else, it will have the cost that you paid for the pieces that you have bought.

Jewelry is one item that you may think that your insurance company is going to cover. However, what you need to realize is this is not always the case and in some instances, the insurance will need to be paid extra for jewelry. Since this is the case, you will want to know more about what you should include when you are getting home insurance for jewelry. By knowing what all information to include it will be easier for you to get the coverage that you need to have on this item and know if it is stolen or burned in a fire it will be covered.