Most householders’ or renters’ insurance offers very limited coverage for jewellery. Ideally, these valuables should be covered by jewelery insurance. By doing a little research before buying jewellery insurance, you can save on premiums and choose the level of protection you want for your item.
Determining the current market value of your jewelery is the only way to make sure that your insurance is adequate to protect it from loss, theft or damage. Let us help you discover the true value of your jewellery.
Whether for replacement insurance, authentication, two-party sale, replacement value as used gems, or simply to find out how much your jewelery currently costs, our appraisal reports are tailor-made to your needs and requirements. budget.
When your jewellery, watch or silverware is evaluated, you’ll then know its current replacement value. You can even rest assured that in the event of loss, damage or theft, your insurance claim will be processed quickly and simply.
When we evaluate your jewelery and diamonds, we will look at their condition, we will evaluate the replacement costs, certificates and invoices you have. We will also provide you with certified documents and a detailed description of every graded gem.
To ensure your precious jewelery is sufficiently protected, you need to get a so-called “floating” front. This type of insurance extends the protection of individual jewelery. Generally, these policies don’t require a deductible but certainly read the fine print of the contract.
A floating jewelery policy offers complete protection in a number of situations, including loss, theft, damage and mysterious disappearances. If your jewellery is damaged, the insurance policy will cover the price of repairs. Some insurance companies insist that you use the refund amount instead to replace the jewellery.
Tips for insuring your jewelery
When shopping for jewellery insurance, there are several important aspects to consider in terms of value and value. Here are three tips to help you ensure your jewelery is successful:
Assess your jewellery
Your insurance premium will be based on the estimated value of your jewellery. For evaluation, you must provide a photo to the insurance company and keep it in your personal file.
Save your bill
If you need to file an insurance claim for lost or damaged gems, having the original bill will speed up the insurance claim and refund process. Always send copies of receipts to your insurance company and keep the originals in your own records.
Save your jewellery
Some insurance companies offer what they call “in-the-door” insurance, which is optimal if you keep your jewelery in a bank safe rather than at home. If you barely use the item and you do not need to keep it at home, an “in the vault” insurance policy offers lower premiums and more security. You can even get extra protection when removing gems from the bank vault.
Nelson Coleman’s assessment offers further support for jewellery appraisal insurance.