|
Jewelry insurance:
is your Valentine's Day gift covered?
SEATTLE - Diamonds are forever may sound
promising when buying expensive jewelry for Valentine's Day.
But in reality, jewelry is just as vulnerable
to theft and loss as any other high-dollar item. That's why it's
important to protect expensive gifts by evaluating your need for
Jewelry Insurance this Valentine's Day.
"Most homeowner's policies have some jewelry
coverage," said Karl Newman, NW Insurance Council president. "However,
if you've purchased jewelry or other items of special value such
as furs, cameras, musical instruments, coins or fine arts, the included
coverage is limited and may not meet your needs."
Typically, Homeowners Insurance policies
protect jewelry against losses from causes such as fire, theft and
windstorm up to a relatively small limit - such as $2,000 for all
jewelry owned in the household. Special coverage can be purchased
to cover the full value of your jewelry for situations such as theft,
loss of the item, losing a stone, or for major catastrophes such
as wildfire or earthquake.
Be sure to contact your insurance company
or agent for help in evaluating your needs.
NW Insurance Council offers the following
consumer tips to help you enjoy your new jewelry for many years
to come:
- Examine your jewelry periodically for signs of damage or loose
stones.
- Have your jewelry cleaned and checked annually. Many jewelers
guarantee the safety of a stone if you have regular checkups.
- Keep a video, photographic and written inventory of all personal
property, including jewelry, and keep receipts for all high-value
items. This simplifies your insurance claim if you do have a
loss.
- You can access free, downloadable Home Inventory Software
at http://www.nwinsurance.org or call 800-664-4942 to request
a free home inventory booklet.
For more information on how to purchase
Jewelry Insurance and protect your valuables, contact your insurance
company or agent about extra coverage that will give you broader
protection.
NW Insurance Council is a nonprofit,
public-education organization funded by member insurance companies.
###
|
