Did you get the lovely surprise of a beautiful new piece of jewelry for Valentine’s Day? Or perhaps you have a fine jewelry collection already? These precious items deserve the full protection home insurance has to offer, but your coverage may be falling short.

Home insurance does provide coverage for your belongings, but certain items—particularly those of high value—may be excluded or coverage may be capped at a value that doesn’t fully cover the item(s). Some of these high value items may include jewelry, musical instruments, fine artwork, certain electronics and more (depending on the details of your policy).

Fortunately, you can get the coverage you need to protect your valuables by adding a rider onto your home insurance policy. A rider adds a specified amount of coverage for listed items. So if a covered event caused a loss, you could be fully compensated in order to replace your jewelry, or whatever you choose to list on your policy.

Some insurance carriers may require that you get your jewelry appraised before a rider can be written. This ensures the extra coverage is just right for your collection. If this is the case, it’ll be your responsibility to bring the pieces to an appraiser, ideally one who is accredited by a nationally recognized appraisal organization.

The appraiser will study the pieces and produce a written record of their worth, following the guidelines set forth by the gemology industry. If you have original receipts or previous appraisals, bring those along for the appraiser to review.

With the value of your jewelry properly documented, you can ensure that your prized collection can be fully covered under your home insurance policy. Your local agent can help you get this process started.

Have any questions? Call us for more information on home insurance for teachers.