For Valentine's Day, we hope you bought a thoughtful gift for your significant other. It's the thought that counts, of course, but let us give you a tip or two: women like jewelry. And, when it comes to fine jewelry, you should give thought to insurance.
Fortunately, your family's everyday jewelry is probably covered by standard homeowner's or renter's insurance (at current market value less any deductible), assuming you carry such insurance. However, if you have valuable or very sentimental pieces of jewelry, the coverage may be lacking.
How can you tell whether your coverage is adequate? The following steps can help you reach the best decision.
We hope that these tips will provide you with guidance on choosing the best policy for your needs. At the very least, you will have a proper inventory and appraisal should you need it. Also, why not take the time this week to confirm that the women in your life have suitable insurance in place to protect their jewelry and other valuable items? Your inquiry will certainly prove more valuable and last longer than a pretty bouquet.
If you bought jewelry on a credit card, apply for a new Balance Transfer card to lower your interest payments.
Originally Posted at: https://www.moneytips.com/insuring-jewelry-101
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