Monday, January 9, 2012

Protect Your Family Jewels

Does your homeowner’s policy automatically cover your jewelry and watches if they are stolen? Sure, up to $1,000- maximum. Is your engagement ring covered if the diamond falls out of the setting and is lost forever? Nope. The most common uncovered loss we see is theft of jewelry and watches.

Most people think that expensive personal possessions, such as jewelry, are covered under their general home owner’s insurance policy. The truth is that insurance companies set low limits on the kind of possessions they know will be expensive to replace, such as Rolexes, tennis bracelets, Super Bowl rings and your grandmother’s pearls.

So what do you do? Protect yourself by adding a jewelry rider to your home, condo or renters insurance policy. It’s a bargain- only $150 per year per $10,000 of coverage. One type is scheduled coverage, which lists each item individually with an appraisal, receipt or a prior insurance policy list. Or you can choose blanket coverage if you have numerous items of lesser value and don’t want to hassle with lists and appraisals.

Due to the volatility of silver, gold and diamond prices, it’s a good idea to have your most precious swag re-appraised every 5 to 7 years. We can recommend a jeweler who can do this for you inexpensively.

To find the right policy for your valuables, call Chris Falcon at Allied Brokers. Chris specializes in personal insurance lines such as home, auto, umbrella, fire and casualty. His in-depth knowledge and years of industry experience will help you protect the things you cannot afford to lose.Visit our website at for information about all the types of  insurance we offer. Or call 1-888-505-7988 for a free rate quote.

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