If you have invested in fine jewelry, you should protect your precious assets with insurance in case of theft or damage. Many CT insurance companies offer insurance policies specifically to protect your jewelry investment. These policies can cover individual items, sets, or collections from breakage or loss. The type of loss may include theft or even accidental misplacement. Jewelry insurance usually is purchased in addition to your homeowners or renters insurance policy because those types of policies first require payment of your deductible and may only cover a loss due to theft. Jewelry insurance is usually not subject to a deductible and can cover beyond the price of your homeowners or renters insurance policy limits.
Most jewelry insurance policies require a professional appraisal to determine the actual value of your jewelry which will be covered by the policy. This may require you to send regular inventory records and photographs. The actual value of the jewelry can then be used to determine the limits of your jewelry policy. Many policies reimburse the actual value of the jewelry but additional coverage can be purchased to cover the replacement cost of the item or items. Most CT insurance companies who offer home or renters insurance can advise you on whether you need jewelry insurance and the amount of insurance coverage your jewelry might require.