Homeowners insurance can have severe limitations for treasured possessions like an engagement ring or family heirlooms. Jewelry and your other special collections deserve proper insurance protection. While insurance can never replace the sentimental value and memories, it can provide for the economic loss that you suffer. If you are not certain how to insure your treasured items, call your agent and they can guide you in the right direction.
Before a Claim Happens
- Prepare an inventory for your contents. Include photos and receipts or appraisals when available. If you have a smartphone, the app MyHome.scr.app.book, will help to document your possessions and store the information.
- Keep up to date appraisals of your valued jewelry. We recommend every 3 years.
- If you have a safe in your home, store your Jewelry in there when it is not being worn.
- If you don’t wear your jewelry often, storing items in a bank vault will keep your jewelry safe and your insurance company may charge lower premiums.
- Review your coverage needs with an agent. They can help you to determine the best way to insure your jewelry, family heirlooms or fine arts.
After a Claim Happens
- Call the Police – whether items are stolen or lost. Ask them to provide you with the incident #
- Call your agent or insurance company to report the loss
- Have your policy number available
- Have a complete description of the cause of the claim
- Have a description for the item(s) that were lost or stolen – weight, color, clarity and details available. Appraisals are essential.
Your claim settlement will depend on the type of coverage you have. Having the required information for your claim will substantially speed up the claim process and ensure payment is received within a reasonable time.
Author: Jennifer Schuyler, Personal Lines Account Manager