Get piece of mind for that rock. – When you give the person you love a valuable piece of jewelry, don't forget to add it to your home or renters insurance policy as scheduled property rider. It is affordable, and the peace of mind and protection of the valuable item is well worth the price.
Many people do not realize that they can or should schedule valuable items like jewelry on their home or renters insurance policy, or they think it is automatically covered. Nothing could be further from the truth. While there is contents protection on most renters or homeowners insurance policies, it is usually capped at a low dollar value. Fine jewelry usually exceeds that limit.
Imagine getting burglarized, or simply losing a valuable piece of jewelry and how devastating that would be. Now imagine how much worse it would be if you were left unable to replace that item and what it meant to you or your spouse.
Anyone with jewelry that has a value over $500 or more can add the items onto their policy in the form of a jewelry rider. Replacing the both the sentimental and monetary value of a precious item can be well worth the price of the protection.
To insure your precious jewelry item, you will need to have an appraisal or receipt. Take a photograph of the item, and if you move or change homeowners insurance make sure you get the rider put onto the new policy as well. If you do not have a renters' or home insurance in place consider getting this valuable form of protection. In many ways it is the foundation to your personal liability and property protection, and is affordable.