Jewelry is one of the most common gifts people give during the holidays. If you’re lucky enough to be the recipient of a new expensive piece, one of the first things you’ll want to do after all the presents have been unwrapped is call your homeowners or renters insurance provider. It’s important to learn whether or not your current policy will adequately cover the latest addition to your collection. If not, your agent can suggest the best policy upgrade for your new treasure. In the meantime, here are some things you should understand about your coverage and how it can help protect valuable jewelry items. 

Is Your Jewelry Covered by Insurance?

How Jewelry Is Covered Under a Standard Policy 

Nearly every standard home and renters insurance policy includes coverage for jewelry. However, most providers place limits on how much you can be reimbursed in the event of damage or theft. This means you will only receive part of the item’s value. Also note that jewelry is only covered if a loss occurs due to certain perils, such as fire, hail or windstorm, electrical current, freezing pipes, explosions, vandalism, and theft. 

Why You Might Consider Buying Additional Coverage

If you have a collection of jewelry that is much more valuable than the maximum limit offered by your home or renters insurance policy, it’s a good idea to consider purchasing a rider provision. These are designed to provide higher amounts of coverage than a basic policy. Some riders will also cover accidental loss in addition to damage and theft, increasing your peace of mind that you will be protected no matter what happens. 

Considering the sentimental and actual value of your jewelry pieces, it’s crucial to make sure you’re properly covered in the event of a theft or disaster. The professionals at Farm Bureau of Mebane-Caudill Agency can help review your existing home or renters insurance policy to determine if you can benefit from extra protection. For over two decades, they have remained a trusted source in Mebane, NC, and the surrounding areas for high-quality coverage at competitive prices. Call (919) 563-3276 to schedule an appointment or get a quote online.