A common misconception is that your homeowners policy will cover the jewelry that you're wearing all the time (such as your wedding ring). A homeowners policy may cover loss of jewelry if your home is robbed or if there's a fire, but normally it insures jewelry only up to around $1500.
You should get your jewelry appraised by a professional and consider jewelry insurance - a type of floater insurance designed especially for securing the gap in your coverage for jewelry.
Maintain regular (annual) policy updates, as the value of jewelry constantly fluctuates according to the changes of the economy and inflation. It's a possibility that after a certain amount of time, your jewelry insurance policy may not be sufficient anymore. Make sure that each time you get your jewelry re-appraised, the details of the value are documented and kept safe. It's also a big help to have photos of all your jewelry stored safely somewhere.
For more information on jewelry insurance, contact us today! We're Lower Premiums by Palmetto, an independent insurance agency based in Anderson, South Carolina.
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