Have some new jewelry in the house? Protect it!
Valentine’s Day is near and love is in the air. Well, love and a few other things, such as chocolates, candle-lit dinners, candy hearts that say “Be Mine” – and, of course, jewelry.
It’s exciting to receive jewelry from a loved one — or to give it as a gift. If you’re lucky enough to have some new jewelry in your Wisconsin home this Valentine’s Day, you should take a few minutes to think about something you probably don’t find exciting or romantic: insurance.
Don’t know where to turn? Don’t worry. At the Insurance Center of Milwaukee, we think it is exciting to help our customers protect what’s most important to them — so we’re ready to help and can answer your questions.
Things to consider when insuring jewelry:
You may need to purchase additional coverage. Your home policy covers valuable items such as jewelry, but there are limits/exclusions. If the cost of replacing your jewelry exceeds that limit, you will want to purchase scheduled personal property coverage. You can check your policy or give us a call at 414-744-6614.
An advantage of scheduling a piece of jewelry is the deductible. Scheduled jewelry can have a different deductible than the rest of your policy. As always, this impacts your policy premium, so take a look at your deductibles whenever you make a change to your policy.
Do you need an appraisal? You may need to have an independent appraisal if the insurance company requires it. It is best to have one on file even if they don’t require one.
What kind of coverage is offered? You’ll want to determine if items are covered no matter where they are, whether in Wisconsin or on an international trip, and if the policy has replacement cost.
Pictures can be helpful. Lost or stolen pieces of jewelry sometimes can be recreated if the jeweler has a good photograph available.
Is the value of your jewelry mainly sentimental? If the answer is “yes,” you might consider foregoing insurance. Talk to us at 414-744-6614 before making that decision. That’s why we’re here.
Of course, it’s important to store your jewelry securely when it’s not in use; a safe in your home or a safe-deposit box is best. We want your jewelry to be replaced if it’s lost or stolen, but we’d rather have your sentimental and valuable pieces stay with you and your family.
At the Insurance Center of Milwaukee, we hope your Valentine’s Day is awesome!
For further questions and assistance, please contact us at 414-744-6614 or firstname.lastname@example.org