Someone’s wedding band and engagement ring are without a doubt one of their most prized possessions. Jewelry pieces that have been passed down through the family are also priceless. If they were to be damaged or misplaced, it would be heartbreaking. While the memories of the original jewelry may be gone, your home, renters and condo insurance offers contents coverage to replace the item. If the particular piece of jewelry were very expensive, having it scheduled with its own Massachusetts jewelry insurance policy would be the best way to protect it.

All of the personal possessions within your house are covered under your home insurance, which is important to know. However, a standard homeowners insurance policy limits your coverage for any unscheduled jewelry pieces you may have. Scheduling your jewelry on your home, condo or renters insurance is a simple process and an agent would be happy to help you find the best policy to fit your needs. Since your MA homeowners, renters and condo policy cover the bare minimum for jewelry, having a jewelry insurance policy would be beneficial. Having extra protection for your jewelry would be a good idea because:

  • Your home/renters/condo insurance policy are subject to a deductible
  • A basic home/renters/condo insurance policy has limits and only protects your jewelry if it were to be stolen
  • Your item might be worth more than the limit
  • Your deductible might be more than your item is worth
  • If you schedule the item, you will get exactly what the appraisal says for the item
  • Items are covered for all the perils, including theft, fire, and if it is lost
  • It is not subject to your deductible
  • Items can be scheduled as low as $50!

The term “inland marine” policy was used to describe the insurance coverage for a ship’s cargo while at sea, but now describes the coverage for protecting jewelry too! The old-fashioned term is from the 19th century, but the coverage is up to date. With an independent inland marine policy:

  • You will get exactly what the appraisal says for the item
  • Items are covered for all the perils, including theft, fire, and if it is lost
  • There is no deductible
  • Items can be insured as low as $50!

How well do you know the state you live in? Did you know these fun facts about Massachusetts?

  • Attleboro was once known, as “The Jewelry Capital of the World” due to it’s many jewelry manufactures.
  • Basketball was invented in Springfield, MA in 1891 by a man named James Naismith who was a physical education instructor trying to think of a way to keep his gym class active on a rainy day.
  • Volleyball was also invented in Holyoke in 1895 by another physical education director named William G. Morgan.

Completing a home inventory is crucial for all renters and homeowners. It allows you to record all personal possessions lost if someone were to break into your home or a fire were to be started. While going through your home inventory, your attention will be brought to other valuables such as jewelry that may need supplemental coverage.

A standard homeowners insurance policy will only protect your personal belongings to a certain degree. You should educate yourself and learn all of the information you need to know before applying for jewelry insurance in Massachusetts. What do you need to know before getting jewelry insurance for an item?

  • The type of fire/burglar alarm you have (company/maker) and the name of the person who installed it
  • Do you wear the item regularly?
  • How many fire extinguishers do you have in your home?
  • When you’re not wearing it, do you keep it in a safe?
  • The appraisal, or if it is a newly purchased item the bill of sale

Some jewelry insurance policies can be as low as a couple of dollars per $1000 insured, which is very inexpensive. You are promised that your valuable piece of jewelry will be replaced for what it is worth; the sentiment of the original is gone, but rest assure you will not have to worry about a replacement. If you were to lose an earring down the bathroom drain, or your wedding ring while swimming in the ocean, know that you are fully covered. Even if you need to replace a gem that has fallen out of the setting, it can easily be replaced with the right coverage.

Call our Encharter agents to at 888.754.8299 or use our contact form above to protect your valuable jewelry with the right quote!

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