Insuring Your Jewellery
When making a large purchase, such as an engagement or wedding ring, it’s wise to take extra steps and make sure your purchase is covered well into the future against loss, theft or damage.
Things happen. Theft occurs, accidents can cause a ring to become damaged or the stone is lost, you can take your ring off for a moment and inadvertently leave it behind. Jewellery insurance is there to protect you.
At Janina’s Diamonds and Time, we point people to Jewelers Mutual for information on jewellery insurance. You can purchase coverage for not only engagement or wedding rings, but also other jewellery, such as watches, earrings or necklaces, or even loose stones that are being set. You can also cover your jewellery worldwide, meaning if you lost or damaged your ring on an overseas trip, it would be covered.
Through jewelersmutual.com, you can enter in your postal code, the type of jewellery you’d like to insure, and its value. From there, the website will give you options – a minimum deductible, should you choose one to lower your annual premium, as well as the annual cost to cover your jewellery.
But Jewelers Mutual isn’t the only place you can get coverage for your jewellery. It’s worthwhile to also check into your homeowners’ insurance plan, to see what kind of coverage they offer. It’s important to check if the rider to your homeowners’ insurance will cover disappearance, meaning you’re not sure if you lost your ring or if it’s sitting in the heating vent where your kid dropped it and didn’t bother to tell you. This is one of the most common causes of jewellery loss, and a rider to your homeowners’ insurance may not cover that.
When you apply for coverage, you will need the proper documentation to show the value of your jewellery. This often requires an appraisal, or even a detailed receipt could be acceptable.
The team at Janina’s can help you with a jewellery appraisal should you require one for your insurance needs.