Monday, January 14, 2013


“My jewelry was much more valuable than I thought.” 

 That was what ALL of my clients would tell me after I sent them reminders to obtain a jewelry insurance rider on their homeowner’s policies for coverage. 

Many clients would also tell me “I had many more pieces of jewelry than I remembered.”

On two horrifying occasions, friends have told me that ALL of their jewelry was stolen after I casually mentioned that they looked different. I no longer work in the insurance field, but I still love looking at people who wear fabulous jewelry.
Here’s why you need to get your  jewelry covered under your insurance policy, and updated annually, whether you are an homeowner or renter:

  1. Prices for gold, diamonds and gemstones have radically increased over the last five years. You know this yourself by just browsing at your jewelry store or looking online at jewelers' websites. Thieves know this too.
  2. Today, there are many more “no questions asked” outlets that buy stolen gold unlike pawn shops which at least have to perform minimal recordkeeping.
  3. Updating your jewelry insurance rider each year is a great incentive to keep your precious baubles organized to avoid "losing it" over searching for misplaced items. You can also review your stash to determine which sentimental or extremely valuable items you many want to keep in a bank lock box.
  4. I also use this opportunity to get items professionally cleaned, have routine maintenance performed like tightening of prong settings, or to get broken items repaired or restyled. Think twice before leaving large diamonds for cleaning and maintenance, make an appointment to wait while your gem is being serviced.

Check with your insurance agent today about the benefits of insurance coverage on your jewelry. Make sure you understand the types of claims that are not covered. Theft and loss are a sad fact of life when it comes to having great jewelry style.

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