Certain things in our lives are obvious to insure, like your home or your car. What about smaller items? Justin explains how to secure coverage for things such as jewelry or valuable collections.
Each year on Valentine’s Day, an estimated 6 million couples are likely to get engaged. Getting engaged can be a very special time. It is important to remember that most insurance policies do not cover your valuable items. Engagement rings need to be insured separately, or as a rider to your current property policy. Some insurance companies do offer blanket coverage for smaller items that fall under a $5,000 limit. Some of these policies are also known as inland marine polices.
These types of polices refer to jewelry, fine art, silverware, different valuable collections, and sometimes even wine. It is important to review your policy to make sure your valuable items are insured properly. By adding these items to your policy, you will have worldwide coverage for the replacement value of the item. It is important to get a new appraisal every three years as the cost of gold and silver continue to rise. You want to make sure your items are insured properly.
For more information, please contact us.