Scheduling your Lombard, IL jewelry will help to ensure it has the right amount of coverage.
Jewelry can add a finishing touch to any outfit. It can also cost a lot of money. While valuable jewelry can last you a lifetime, you need to consider what it will mean for your insurance coverage before you buy it. Knowing what valuable jewelry means for your insurance coverage will help to make sure that you have the coverage that you deserve.
Your existing homeowners or renter’s insurance policy will provide coverage for your personal belongings that you keep in your house. However, your policy will also have strict limits on how much coverage it will provide. Most home insurance and renter’s insurance policies will not have high enough limits to cover the cost of valuable jewelry.
Scheduling jewelry within your insurance policy will provide the additional coverage that you need to keep your valuables properly protected. When you schedule your jewelry, each piece will be specifically listed within your policy, along with a specific dollar value.
While many people only schedule jewelry that exceeds the limits of their existing coverage, you may want to consider scheduling all of your jewelry. Along with providing additional coverage, scheduled jewelry will also be covered by various perils that are not provided by home or renter’s insurance. Scheduled pieces will be covered from the loss of a stone from the mounting, certain types of damage, and even mysterious disappearance.
When scheduling your jewelry, you will have to provide proof of the value of each piece. If you don’t have a receipt for the piece, you will need to get it appraised and then provide your insurance agent with the appraisal receipt.
For more information on scheduling all of your valuables within your home insurance policy to ensure that you have the right amount of protection, contact the independent insurance professionals at Steve Wilk Insurance Agency in Lombard, Illinois.