Protecting Your Valuables

Protecting Your Valuables

Ah, Valentine’s Day is near, and love is in the air. Well, love and a few other things, such as chocolates, romantic dinners, and, of course, jewelry.

If you’re lucky enough to have some new jewelry in your home this Valentine’s Day, you should take a few minutes to think about something you probably don’t find exciting or romantic: insurance.

Don’t know where to turn? Don’t worry. At Apollo Insurance Services, we think it is exciting to help you protect what’s most important to you— so we’re ready to help and can answer all of your questions.

Things to consider when insuring jewelry:

You may need to purchase additional coverage

Your homeowner’s policy covers valuable items such as jewelry only up to set amounts and only for certain types of losses such as theft. If the cost of replacing your jewelry exceeds that limit, you will want to purchase scheduled personal property coverage.

You might want to reconsider your deductible amounts.

As always, this impacts your policy premium. It’s a good idea to take a look at your deductibles whenever you make a change to your policy.

Do you need an appraisal?

You may need to have an independent appraisal if the insurance company requires it or if you don’t know the value of your jewelry. Each item should be listed with a description and value.

What kind of coverage is offered?

You’ll want to determine if items are covered no matter where they are, whether they’re at home or on an international trip, and if the policy offers full replacement cost. You also should ask if you will be required to replace your jewelry if lost or stolen, or if you can simply keep the cash settlement.

Pictures can be helpful

Lost or stolen pieces of jewelry sometimes can be recreated if the jeweler has a good photograph as a starting point.

Of course, it’s important to store your jewelry securely when it’s not in use; a safe at home or a safe-deposit box is best. We want your jewelry to be replaced if it’s lost or stolen, but we’d rather your sentimental and valuable pieces stay with you and your family for years to come.

Here’s hoping your Valentine’s Day is full of fun and romance and possibly a new gem. And to make sure you’re protecting all of your valuables, turn to Apollo Insurance Services. Call us today at 800.426.1088, option 2 or click here.

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