Protecting Your Jewelry and Other Expensive Belongings With Your Home Insurance Policy
Home Insurance
When you receive or purchase a luxurious item, you want to protect it to the best of your ability. Theft seems like one of those things that will just happen to others until suddenly it happens to you.
When expensive items become stolen, lost, or simply damaged, you’re going to hope you have a good policy to cover a replacement.
Here are some simple tips about protecting your jewelry and other expensive belongings with your home insurance.
Contact Your Insurance Company Immediately
Immediately after making a big purchase, you should cover it under a rider or extension to your current home insurance policy. Your insurance company will work with you to select a policy that will protect your items.
Your premiums will increase slightly based on the value of the item and the policy you want.
Pay attention to what policy you’re getting, because some policies may not cover loss or other user errors.
Some items qualify for replacement coverage based on the value of the item when you bought it.
However, most items will only qualify for the actual cash value in the case of a claim based on depreciation.
Invest in a Home Security System
Don’t allow yourself to become a target. Install a high-end security system that includes recordable video footage, yard lights, alarms, and a safe.
Insurance can replace your stolen items (or the depreciated value), but a security system can prevent the hassle in the first place.
Your security system may even qualify you for discounts on your home insurance, so make sure to talk to your insurance agent about that.
Keep Copies of Important Records
Keep records of everything, especially receipts of expensive items and paperwork clarifying new items covered by your policy.
If you have physical records organized on hand and digital records online, you can eliminate the back and forth between you and the insurance company.
While you’re at it, make copies of all pictures that mean a lot to you.
While your insurance doesn’t need them, you’ll be glad you did it in the case of serious damage to your house.
Enjoy Your Luxury Items
Some people get so paranoid about protecting their jewelry they won’t wear it in public, making them tragically underutilized as they collect dust in a jewelry box or safe.
Don’t let fear prevent you from enjoying the things you worked hard to purchase.
Wear your fancy jewelry and use your tech toys! (Just put them back where they belong when you’re done).
We only have so much time to enjoy ourselves. Spend more time enjoying life instead of fretting by adding your most precious valuables to your homeowner’s policy. You deserve peace of mind.
Category: Insurance
