Over the years, you may have collected a few valuable, meaningful pieces of jewelry that together make up a significant portion of your assets. In addition to their sentimental value, your wedding rings alone may be worth several thousand dollars, and the total sum of your collection may be much higher. Unfortunately, the fragility of these possessions and the ease with which they can be sold make them vulnerable to natural disasters or theft, which is why jewelry insurance is so important.

What You Should Know About Jewelry Insurance

1. Homeowners Insurance May Be Insufficient

While your renter’s or homeowners insurance policy provides coverage for personal property lost in a covered event, the limits of these plans may not be enough to fully compensate you for the loss of valuable items. For instance, your policy may only cover $2,000 for lost jewelry, which is not necessarily enough to replace a single piece. Depending on the value of your collection, a separate insurance plan can provide the protection you need and peace of mind.

2. It Is Affordable

Many assume that this insurance is reserved for wealthy individuals with millions of dollars in jewels, when in fact obtaining this coverage can be quite affordable. While rates vary significantly between insurers, in most cases, you can purchase a policy for only a small percentage of the item’s value.

3. There Are Options for Extended Coverage

Homeowners insurance policies only compensate you for items damaged or destroyed by covered perils, such as fires or hurricanes. Jewelry insurance extends a wider umbrella of coverage over your valuables and will compensate you if it’s lost, stolen, or damaged.

As a representative for State Farm®, Tim Bryan Insurance offers high-quality policies to clients throughout Andalusia, AL, backed by one of the nation’s leading carriers. Whether you’re looking for coverage for your valuable jewelry collection or any other type of insurance policy, this knowledgeable professional will help you find a comprehensive fit for your needs. To request a free quote, visit his website or call (334) 222-1460 today.