Insurance and Trust | Is your Bling covered? | Jennifer Versaggi
Guess what?…Your homeowner’s or renter’s policy doesn’t cover your engagement ring and other fine jewelry for loss or damage, and your policy likely provides only small and limited amounts in the event of theft. For example, most homeowner’s policies will pay a maximum of only $1,000 for jewelry theft, and a typical renter’s policy has even lower limits of $500. The good news is that you can purchase a policy to cover jewelry for reason other than theft, such as being lost, or damaged! When purchasing this type of coverage, here are some questions you might want to consider asking: - Is an appraisal required? The answer is typically yes, if you want a particular item scheduled. For example, an engagement ring, Rolex watch, or a family heirloom which has…
