Jewelry Coverage, Diamonds and Gold - Homeowners Insurance Melbourne, Florida

Jewelry Coverage, Diamonds and Gold - Homeowners Insurance Melbourne, Florida
Insurance Center of Central Florida
http://www.theinsurancecenter.us/

Is your Jewelry covered under your Homeowners Policy? Log on to www.TheInsuranceCenter.us for complete details.

Frank: The next thing we want to talk about are some items that either have limited coverage or no coverage under your homeowners policy, and that can come back and haunt you. Could you explain some of those to us, Kevin?

Kevin: Absolutely. One that people are always concerned about is coverage for jewelry, and the reason is because it's valuable! If something happens to it, you want it back. It's not just that the item's valuable, it has a tremendous emotional attachment to it. And so, having enough insurance for an item like that is extremely important, and that's why it's very important that you know exactly how much you have in your policy versus how you probably need to make sure that it's actually replaced.

Frank: well, I'm going to answer that. Most homeowners policies only give you a thousand dollars for the theft of your jewelry. No coverage whatsoever if you lose it. So, one of the things that you can do, you can add special coverage for your jewelry, and it's based on the appraised value. So, you do need an appraisal. But what it'll do for you is it will give you is-- when you do that, there's no deductible, and if you lose that item or it's stolen, you'll get coverage. All you do is turn in a police report and say that it's lost or stolen.

Kevin: right. So, it's extremely important that you know the coverage that you have like Frank just described so you know what to ask for when you contact your insurance agent.

Frank: And the reason they want an appraisal is because you would be surprised at the value, especially now. Look at gold. Gold goes up almost daily. I had a guy that a ring. It was old. He paid $765 for it. The appraisal said $3,000. So, if we would've insured it for $765 and lost it, he couldn't have replaced it.

Kevin: Right.

Frank: So, that's why they want an appraisal. Again, give your agent a call, review your policy, and if youd like a second opinion, give us a call at the Insurance Center of Central Florida. Our number is below.

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Education

Tags:

• Jewelry Coverage
• Homeowners Insurance
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• Necklaces
• Bracelets
• Earrings
• Diamonds
• Engagement Ring
• Wedding Ring
• Deductible
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• Nationwide
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• Tower Hill
• Melbourne
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