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Insuring Your Valuable Jewelry

Much time, effort, thought and money goes into buying the perfect diamond ring. After all this is both a significant and sentimental item. An engagement ring symbolizes the continual love involved in this special union, but is also an alluring piece of jewelry that is put on everyday. This ring will be displayed for friends and family and valued by the person wearing it each day. Something this precious needs to be protected so it’s a good idea to get engagement ring insurance for this treasured piece of jewelry.

While insurance is particularly important if the value of the ring was especially high, it is also significant for low and moderate priced rings because of the sentimental attachment involved with this particular piece of jewelry. Unfortunately the original ring cannot be found if it is stolen or lost, but at least if you’ve purchased jewelry insurance you can get a replacement for it.

Insuring jewelry is not that complicated. There are a couple of options, you can add a jewelry policy to your renters or homeowner’s policy, you can get an individual insurance policy with your normal insurance company or you can take out jewelry insurance with a company that specializes in ring insurance. But be sure to compare competitors so you find the insurance policy that suits your requirements and your budget best. You will also need to get a professional jewelry appraisal from a qualified appraiser so you fully understand the real value of your ring. You’ll need a ring appraisal for your insurance agent also, but make sure it is from a jewelry appraiser you consider reliable.

Be sure to ask a lot of questions so you thoroughly understand the insurance policy you are purchasing. You don’t want to run into unanticipated issues when you need to submit a claim. Sadly sometimes people discover their specific policy doesn’t cover particular situations only after they’ve made a claim, but by then it is too late. Be sure you understand exactly what your insurance policy does and doesn’t cover before you commit to that policy.

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