JEWELRY & ART
Be certain that you’re covered
A standard homeowner’s insurance policy may not provide adequate coverage for your treasured possessions.
In fact, homeowner’s insurance provides limited coverage for jewelry and similar items — just a few thousand dollars, typically — and that’s after you’ve covered your deductible.
Some other important factors to consider:
Rings, necklaces, watches and other luxury goods are the items most frequently cited in claims.
The value of gold and other precious metals has increased over the past 10 years. Even if your jewelry is insured, it may be undervalued.
You should reappraise items every two to four years to ensure that your coverage is adequate and their fair market value is reflected when you need to file a claim.
Peace of mind you deserve
Although nothing can truly replace the sentimental value of a cherished ring, necklace or other personal article, jewelry insurance can at least reimburse you for the financial loss.
We can help you determine the type of policy that is right for you, whether you schedule individual items or opt for blanket coverage. Either way, when an article is lost or stolen, its monetary value will be covered.
Unique objects demand special coverage
Whether you have precious family heirlooms or you collect paintings, antiques or sports memorabilia, a standard homeowner’s insurance policy will not provide adequate coverage for your most treasured and valuable possessions.
In fact, a homeowner’s policy provides limited coverage for such items — just a few thousand dollars, typically — and that’s after your deductible.
Unique and valuable collections require a special kind of safety net. Scheduling items in your insurance policy is one of the best ways to protect you and your passionate investments against losses due to accident, theft, fire, shipping and loaning, natural disasters and more.
Work with a broker who understands
Many collectors do not secure proper coverage for their heirlooms or passionate investments. Too often, they overinsure against minor risks and under-insure against major ones.
Begin by working with a broker who understands how to best insure valued collections and can advise you about a supplementary policy — or valued-items rider — that covers your belongings worldwide, including during transit and shipping. Then, when an object is lost, stolen or damaged, its monetary value will be covered.