Do I Need Jewelry Insurance For My Wedding Ring?
The time after Valentine’s Day can be a flurry of excitement and emotions, especially if you now have a ring on your finger! Though it may not seem important right now, you should consider getting jewelry insurance for your engagement and wedding ring. Accidents happen all the time, and unfortunately, you cannot always prevent them. What if you drink your ring down the sink? Or what if you wear it to the beach and your ring gets lost in the ocean? Jewelry insurance can come in handy.
Jewelry insurance is important to have in the event of theft, damage, or even if you lose your ring! Your home insurance policy may not cover specialty items, such a jewelry. And even if there is some coverage, your jewelry may exceed your existing coverage limits. So if something does happen to your wedding or engagement ring, you’ll want to make sure you have some protection in place.
Depending on your policy and coverage, you may not even need an appraisal for your wedding ring. If your ring is of higher value, you may need an appraisal within the past three years. If you schedule your ring, and something happens, you can get the full value of the appraisal, which may not be possible without this coverage. Another advantage of a jewelry insurance policy is that scheduled items may not be subject for a deductible on your claim. Because a deducible can be expensive, the value of the deducible may be more than the value of your ring! Without a specialty jewelry insurance policy you might find yourself paying excess amounts in deductibles! And, if you only have homeowners, then you will not be covered for theft either!
There are numerous advantages to having jewelry insurance, but how much does jewelry insurance cost? You may be able to get coverage for as little as $50! Generally, jewelry insurance is a inexpensive way to protect something near and dear to your heart. Though the sentimental value of a wedding ring cannot be replaced, but the material good can be replaced.
Talking to your agent is a good way to assess your jewelry situation. Every person and every ring is different. Certain factors such as: amount of wear, security systems in the house, and safes can all affect your jewelry insurance policy rates. Talking to an agent is the best way to ensure your getting the best policy for you.
A wedding or engagement should be a time for celebration! Don’t spend your time worrying about something happening to your ring. Having a jewelry insurance policy is a great way to have some peace of mind. Whether it’s a fire, a theft, or you accidentally lose it jewelry insurance can be helpful. Talk to your insurance agent about your wedding or engagement ring. As with any major life change, your agent can make sure that you are covered, no matter how hectic your life may seem! And do not forget to ask about any discounts that you may be eligible for! Encharter is here for all your wedding insurance needs!