INSURE YOUR JEWELRY AND DIAMONDS BY ASKING THESE QUESTIONS FIRST!

If you’re buying an engagement ring, whether it has a warranty or guarantee, you should always buy insurance as well.

Most people add their jewelry and diamonds to their home owners policy, or renter’s insurance…

That way, in case you have theft, get robbed, lose the item, lose the diamond, or have it damaged in a natural disaster, you should be covered…

That’s if you insured your rings, jewelry and diamonds properly.

So before you proceed, here are a few questions you should ask, to find out what the policy will cover, what they won’t, and how much it’s going to cost you.

Insurance Questions to Ask:

1. What types of coverage options are available for jewelry and diamonds?
2. What is the process for valuing the jewelry and diamonds for insurance purposes?
3. Is there a requirement for a professional appraisal? If so, how often should it be updated?
4. What events or scenarios are covered under the policy? (e.g., theft, loss, damage, accidental disappearance)
5. Are there any exclusions or limitations to the coverage? (e.g., wear and tear, damage caused by certain activities)
6. What is the deductible for jewelry and diamond claims?
7. Will the policy cover the full replacement value or just a portion of the value?
8. Are there any specific security measures or precautions that need to be taken to maintain coverage? (e.g., safes, security systems)
9. Is the coverage worldwide or limited to a specific geographic area?
10. What documentation or proof is required in the event of a claim?
11. Are there any specific circumstances that might void the coverage? (e.g., negligence, intentional damage)
12. How will a claim affect future premiums?
13. Are there any discounts or bundling options available for insuring jewelry and diamonds?
14. Can the policy be customized to fit specific needs or preferences?
15. How responsive is the insurance company when it comes to processing claims?

Remember, it’s important to carefully review the policy documents and ask your insurance agent to clarify any terms or conditions that you don’t understand.

And also, it may be wise to shop around different insurance companies just to see who gives you a better deal, while still protecting your and your valuables at the same time.

Cheers! :)