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Jewelry Insurance
By: John Emil D'Angelo

1. Homeowners insurance rider (Scheduled Personal Property)
Coverage: Provides additional coverage for specific, high-value items beyond standard policy limits. Your jewelry is insured for its appraised value, not subject to depreciation.

Pros: Can be cost-effective for a single or a few valuable pieces. May cover a broader range of perils than a standard homeowners policy. Claiming might not affect your entire homeowner's premium as much as a stand-alone policy could.
Cons: You need to list and insure each item individually, often requiring an appraisal. You might not be covered for certain risks like damage from floods or earthquakes.

2. Separate jewelry insurance policy
Coverage: Often provides more comprehensive coverage specifically tailored for jewelry. May cover preventive maintenance, loss or damage from floods or earthquakes, accidental loss, damage during travel, or even mysterious disappearance. Many policies operate on an "all risks" basis, meaning anything not explicitly excluded is covered.

Pros: Specialized coverage for your valuable pieces. Filing a claim won't affect your homeowners insurance premiums or potentially impact your insurance credit score negatively. Allows you to choose your own jeweler for repairs
Cons: Higher premiums compared to adding a rider to your homeowners policy, especially for a single item. Some policies may not offer monthly payment options.
#jewelry #Insurance #InsurancePM #Ring #Watch