Jewelry has always been prized, admired, and adored, but it’s also a costly investment. If you want to protect this investment and keep your jewelry looking its best, you must learn the steps necessary to ensure your pieces.
To start with, why do you need insurance? Well, there will eventually come a day when your favorite piece of jewelry is lost or stolen. When this happens (and if it hasn’t already), you have full coverage for the piece on the insurance policy. This can help you get the piece replaced or repaired, or if you prefer, it can help you pay for all or part of the original price you paid to replace the item.
Follow these steps to ensure your collection:
1. Start by consulting with a jeweler specializing in insuring jewelry collections.This is essential because some policies are more comprehensive than others and offer different benefits. Get quotes and learn about applicable deductibles before making a final decision.
2. Determine your total collection’s worth and each piece’s retail value. This will tell you the worth of your collection when it’s insured. It’s also a good guideline when determining your deductible.
3. Figure out how much coverage you want to buy on each piece.
4. When you have purchased the right amount of insurance coverage, purchase a duplicate of that jewelry piece and head to your local insurance agent to get it approved for insurance coverage, and then process the paperwork with the jeweler in charge of insuring your collection.
Now that you know the steps to take to protect your jewelry collection, you can pass these steps on to your family and friends that also have collections. When you have done this, you can begin investing in more high-end pieces of jewelry once again. Also, be sure to take care of your collection by keeping it away from water and cleaning it periodically. These steps will help ensure your jewelry collection remains safe and sound for many years.