When it comes to protecting your valuable possessions, it pays to be prepared. Whether you own a collection of works of art, jewelry, antiques, or firearms, you need to make sure that they are adequately insured. Fortunately, there are a variety of options available to ensure that your valuable items are covered in the event of loss, theft, or damage. One of the most popular ways to insure jewelry and other valuable items is to purchase a scheduled personal property guarantee.
This supplemental policy is available from most insurance companies and allows you to increase the personal property coverage limit for specific items. With this type of policy, you can be sure that your special items are protected in the event of an unexpected loss. If you have a large number of valuable items, they may be covered by homeowners insurance or renters insurance. However, these policies typically provide limited coverage for valuable possessions such as jewelry, works of art, wine and liquor, antiques and collectibles.
If you have a separate jewelry insurance policy that includes repairs, you'll need to take photographs of the item and send them to the insurance company. A renters insurance policy can also cover jewelry and valuables in the same way that homeowners insurance does. For high-value items, it may be worth considering a buyer protection plan. This type of plan provides better coverage than homeowners or renters insurance in terms of dollar value.
No matter what type of policy you choose, it's important to make sure that your valuable items are adequately insured. By taking the time to research your options and find the right policy for your needs, you can rest assured that your possessions will be protected in the event of an unexpected loss.