What Is Jewelry Insurance?
Like other types of insurance for a boat or a car, jewelry insurance is a financial product that provides coverage for the item at hand. With jewelry insurance, you can pay an annual premium for a policy that protects your jewelry against damage or theft. Policies often have a deductible, but some jewelry companies offer this coverage with no required deductible.
Some jewelry insurance policies require an appraisal for covered items over a certain amount, such as $5,000. You’ll need to make sure all jewelry you purchase and want coverage for is ultimately included and outlined in your policy as a “scheduled item.”
Does Homeowners Insurance Cover Jewelry?
Homeowners insurance often includes a personal property component that includes jewelry. However, the way homeowners insurance is set up can make the coverage for jewelry less than optimal and expensive to use.
For example, many homeowners insurance policies