| The most easily misplaced, damaged or stolen | | | | insurance may be the safest way to recoup losses |
| valuable many individuals own is jewellery. The | | | | should an expensive piece of jewellery go missing or |
| tragedy of such losses is far greater for people with | | | | become damaged. Such insurers cover every type of |
| either no insurance, the wrong type of insurance or | | | | loss. A jewellery insurance policy covers repair or full |
| insurance inadequate to cover replacement costs. | | | | replacement cost of every insured piece, regardless |
| Many home owners wrongfully assume their | | | | of how when or where it was lost or stolen or how |
| homeowner's insurance covers their valuables. Many | | | | much it has increased in value. |
| such policies specifically exclude jewellery and those | | | | Most jewellery insurers allow the insured to choose a |
| that include jewellery coverage often exclude | | | | reputable jeweller of their choice for repairs or |
| damage or accidental loss. Most home owner policies | | | | replacement pieces. And, unlike homeowner's |
| do not have travel clauses and are woefully lacking in | | | | insurance policies, jewellery insurers seldom require |
| the amount of coverage necessary to cover the full | | | | the insured get estimates for a low bid which might |
| replacement cost. | | | | result in a repair or replacement of inferior quality. |
| Consider a special rider on homeowner's insurance to | | | | Prior to insuring, fine jewellery, cherished antique |
| cover even items such an inexpensive diamond | | | | jewellery, timepieces and all items made of precious |
| wedding ring or watch. An item which may have | | | | metals or set with valuable stones should be |
| been inexpensive when purchased could have tripled | | | | appraised by a certified jeweller. High quality jewellery |
| in value so insurance for replacement costs and | | | | can also be marked inconspicuously for identification |
| update the policy every year to keep current with | | | | purposes. |
| increases in value. | | | | In addition to an appraisal, which may include a |
| Be aware that homeowners insurance may have a | | | | photograph, the jewellery owner should have all |
| low total amount for jewellery coverage. In the | | | | insured pieces photographed, both individually and as |
| event of thievery or accidental loss all jewellery could | | | | a group. This type of photography can be done by |
| be stolen, damaged or lost so a policy is needed | | | | an amateur photographer equipped with a digital |
| which covers replacement costs of every piece of | | | | camera with a zoom lens and good lighting. Such |
| jewellery owned by every member of a family or | | | | photographs and the professional jeweller's appraisals |
| establishment. Even a special jewellery rider on a | | | | should be securely stored in separate vaults or |
| homeowner's insurance policy may only cover | | | | storage areas. |
| jewellery stolen from the home if there is evidence | | | | Getting appraisals, photographing every piece of |
| of a forced entry. It may not cover accidental loss at | | | | jewellery and obtaining insurance for jewellery and |
| all. | | | | valuables are not only wise financial decisions; they |
| Insuring with an agency specializing in jewellery | | | | contribute to the jewellery owner's peace of mind. |