It’s important to protect the things that we love. For many of us, jewelry can number amongst our most precious and valued possessions, and leaving it vulnerable to the vagaries of theft, loss, or disaster is simply unthinkable.
This makes jewelry insurance essential; indeed, to choose not to insure is akin to leaving the door open and a sum of cash on the table, with all and sundry, from fire to thieves, invited to take it from you even though you have no means of recouping your loss.
However, choosing to insure is a far simpler decision than picking a suitable firm to insure yourself with, and the right policy and package for you. Luckily we’ve collated these handy tips to help you…
Tip #1: Check to See Whether You’re Covered by an Existing Policy
One of the prime reasons that people choose to forgo jewelry insurance is the often erroneous belief that they’re covered by a standard home contents policy. Although it is always wise to have such cover in place, a quick glance at the small print will often reveal that the maximum an insurance company will pay out for items of jewelry is £10,000. If this is sufficient for your needs, then further cover is unnecessary. However, if the financial value of your jewelry exceeds this value, then you may find that a specialist policy and provider are better suited to your requirements.
Tip #2: Reputation is More Important than Price
There are lots of budget providers selling their wares on the insurance markets, but the cheapest option will often fall short of your requirements. The old adage that ‘you get what you pay for’ usually rings true in such circumstances, so it’s better to research the reputations of various firms than it is to compare them on the basis of their prices. Companies like Catlin, for example, have sterling credit ratings, and a quick Google search will reveal multiple positive testimonies. When the contents you’re covering mean so much to you, make sure that you can trust the insurer that you choose to protect them.
Tip #3: Find the Right Level of Cover
Thirdly and finally, it’s imperative that you choose the right level of cover for your assets. It’s often useful to approach an unconnected expert before taking out insurance, in order to generate an unbiased appraisal of how much your items are worth. Only when you have this information to hand can you make a truly informed decision as to the appropriate level of cover for you.
However careful you are, disaster can always strike. Even with the best will in the world, it is impossible to foresee every potential disaster that could befall your possessions. Although it won’t help to return them to you, insurance at least provides an adequate safety net to prevent you from being left out-of-pocket if the worst happens. Follow our advice to protect the pieces that you love, and take out the perfect policy for you.