4. Is my jewelry covered under my homeowner’s insurance policy? Can I buy insurance on my jewelry alone?
This is something that you will need to discuss with your insurance agent. Most companies require that you carry a homeowner’s policy, and will not write a policy for jewelry alone. At least one company (Jeweler’s Mutual Insurance Company) sells a policy specifically for jewelry. Information is available from Jeweler’s Mutual participating jewelers or directly from Jeweler’s Mutual at (888) 884-2424.
As a general rule, items of limited value are covered under a blanket clause in most homeowner’s policies. Keep in mind that such coverage also includes computers, TV’s, VCRs and numerous other items. It doesn’t take much to exceed the policy limit. Usually, jewelry of significant value will be insured under a rider purchased separately, and must be listed and appraised piece-by-piece.
A policy may also list certain restrictions (deductibles, depreciation, terms for filing a claim, etc.).
It is important that you discuss all of these matters with your insurance agent and learn the specifics of your policy.
