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Insuring Inherited Jewelry

Insuring Inherited Jewelry

Jewelry Insurance Coverage

Inheriting a piece of jewelry from your grandparents can be very sentimental. However, it can also be very difficult to know just how much it is worth. While new pieces of jewelry will come with a receipt to prove the value, inherited jewelry will not, which can make it hard to insure. Knowing how to properly insure your inherited jewelry can help to make sure that it stays safe for many years to come.

The first step in insuring an inherited piece of jewelry is to get it appraised. Your insurance company will need copies of the written appraisal in order to decide on how much coverage you need. The jewelry can then be added to your homeowners or renter’s insurance policy as a scheduled item. When you schedule an item, it will be insured for the appraised amount, and will be protected from perils that non-scheduled items do not have, including mysterious disappearance coverage.

Typical renters and homeowner’s insurance policies have a strict limit on the amount of protection that they will provide for your personal property. If you have any valuable items, such as inherited jewelry, the policy will not be able to provide enough coverage. When you schedule an item within your policy, you can rest assured knowing that the piece has the right amount of protection. The policy will pay to replace any stones that fall out, and will pay the full-insured amount if they are not able to replace the item with a similar piece.

For all of your homeowner’s insurance needs when looking to protect your jewelry, contact the Insurance Agency of Dean Davis in Austin, Texas. We will work with you to ensure that you have the right amount of protection for all of your valuables, all at the right price.