12 December 2011

How to Insure Jewelry for Cheap

When we invest our fortune in buying something new like a house or a car, we make sure we protect our valuables by insuring it. And jewelry is no different. One of the easiest items to get misplaced, stolen or damaged is jewelry. The tragedy of such losses is far greater for people with either no insurance, the wrong type of insurance or insurance inadequate to cover replacement costs.

For those wondering about how to get their jewelry insured, basically there are two
How to Insure Jewelry for Cheap
ways to insure a piece of jewelry. You can either go to a company that sells specific jewelry insurance, or you can have the piece of jewelry added to a homeowners or renters insurance policy.

But sometimes the home insurer's policy don't cover such valuable. Try and make sure your homeowner's insurance cover's even items such an diamond wedding ring or watch. Read your home owner's or renter's insurance policy to find out the amount of coverage it provides for items such as jewelry.

Even before you could something it is necessary you read the insurance policy before buying because not everything will be covered. Wear and tear are typically not part of the policy, and a defect in the jewelry wouldn't be covered either. If you have renters or homeowners insurance and have the option to add a piece of jewelry onto the policy at no cost, that's definitely the best option.

If you don't have renters or homeowners insurance and are deciding between that and private jewelry insurance, take a look at rates for both.