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More than just Florida Jewelry Insurance


Understanding Jewelry Insurance

Jewelry Insurance Quote in Tampa, Florida

High-value items are insured as part of the “personal property coverage” on a standard homeowner’s or renter’s policy, but only to certain limits. If the value of an individual item (such as an engagement ring) exceeds the stated limit, there is no coverage for the difference…unless you purchased a “scheduled personal property” endorsement.

This advice applies not only for jewelry, but also for antiques, art, high-value rugs, coin collections, firearms, and certain other items.

Jewelry is by far the most common high-value item to be insured. (That’s why we’ll keep the focus on it in this article.) But if you have or buy an expensive item that fits any of the categories above, and you’re wondering whether it is covered on your homeowner’s policy, give us a call. We’re happy to find the adequate protection for your valuables.

Did you buy a special piece of Jewelry in Florida for your loved one? Get it insured!

A typical homeowner’s policy only covers jewelry up to $1,500. As soon as the ring is in your possession, it is time to protect it by adding a scheduled jewelry endorsement to your homeowners insurance or renters insurance policy.

One important note: If you and your significant other don’t live together, the insurance question can become a little more complicated. As long as the ring is still in your possession, the ring can be insured on your homeowner’s or renter’s policy. But as soon as you propose – and give the ring to your fiance – it becomes hers, and must be insured on her homeowner’s or renter’s policy. When in doubt, just give our office a call.

Of course, this advice doesn’t apply only for an engagement ring. It is wise to protect all your expensive jewelry or watches with a jewelry endorsement. Are you going to give her those diamond earrings she’s been dreaming about for Christmas? Is he receiving a Rolex for Father’s Day or his well-earned retirement? Please get them insured.

Coverage is available for less than $12 per $1,000 value. Simply hold on to your receipt, or obtain a professional appraisal to determine the value of the item. Your team at Most Insurance Agency can help you take care of all the rest.

Did you know that 70% of all personal property claims involve jewelry? The good news: Jewelry is usually covered up to $1,500 per item on a standard homeowners insurance or renters insurance policy.

The not-so-good news: A typical homeowners insurance policy does not cover losses due to mysterious disappearance or loss of a stone from its setting.

The even-better solution: Scheduling jewelry items over $1500 in value and adding a “special form” endorsement to your home insurance policy for lower valued items will cover these common losses.

And if an item is scheduled, no deductible will apply to your loss! Please give us a call at 813 739-8111 for more information about jewelry insurance cost.