Your jewelry may hold more than monetary value so it is important that you schedule your valuable jewelry.
Jewelry can be expensive so it is important that you always insure it to cover the cost and replace your jewelry. But jewelry can hold more than monetary value, as we all have come to know. It holds sentimental value, something that is not easily replaceable. For this reason, it is important that you schedule your valuable jewelry. Here are a few things you need to know about scheduling your valuable jewelry.
What does it mean to “schedule?”
Your homeowners coverage provides certain amount of coverage to your personal property that protects against fires, vandalism, theft, and other things specified in each homeowners insurance policy. But depending on the amount your jewelry costs, it could easily surpass this preset coverage. Scheduling your valuable jewelry just provides additional coverage to further protect your jewelry.
The benefits of scheduling your valuable insurance.
- Broader protection. The biggest plus is the increase in protection and increased coverages that your jewelry and other valuables attain. It includes accidental loss (like dropping your engagement ring down the sink) which homeowners insurance typically does not cover.
- No deductible. When you have to file a claim against your personal property, you may have to pay a deductible. A deductible is the amount you pay before your insurance kicks in. So if your deductible is $1,000, you have to pay the $1,000 before your insurance steps in to cover the rest of the costs. But when you schedule your valuable jewelry, you usually don’t have to pay this deductible.