If you have jewels, gems or heirlooms in your home, you should definitely consider insuring them against theft or damage during a natural disaster. Personal jewelry insurance may not be able to replace a necklace passed down from generation to generation, or bring back your great-grandmother’s silver, but it will provide financial compensation for items lost in theft or damaged in floods or fire.
Accidents do Happen
Depending on the policy you choose, your personal jewelry insurance can even protect your diamonds if they get lost or stolen during international travel. Even if only part of a set is destroyed or taken from you, insurance can step in to replace the missing pieces, or in some cases, provide a new matching set. If you travel frequently with high-value items, you cannot afford to miss out on an insurance opportunity that can protect you and your belongings.
A good place to start before selecting a policy, is to get a new appraisal. The costs of precious metals fluctuate rapidly over the years, and you want to make sure your jewelry is covered at its full value. After your appraisal is complete, find an insurance professional who can help you find the best package for your needs.