Finding out your homeowners or renters insurance falls short after you’ve already lost your ring leaves you wondering what to do next. Do you pay for a replacement out of your own pocket? Or go without a ring?
Rock. Hard place.
So how do you know which insurance option won't leave you empty-handed when the unexpected happens? The first step is understanding exactly which situations are covered and for how much.
"How much is my jewelry worth and is it covered for current value?"
You’re not alone if you don’t know the answer. The most important thing is that you find out and keep your jewelry covered for current value before it’s too late.
Look up the definition of insurance and you'll find words like "reimbursement" and "compensation." That makes sense, since most insurance policies rectify losses by cutting you a check.
In the case of jewelry insurance, a cash payout isn't always your best option.
Read on for a comparison of how jewelry insurance works for a replacement policy versus a traditional reimbursement.
Whether you have an extensive jewelry collection or not, there are circumstances in which it is vital to have quick access to a record of all the jewelry you own.
From simplest to most complex, here are some great options for creating a personal jewelry inventory.
