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Few simple steps to get your precious jewels insured!

Jewelries are both expensive and valuable whether it is a wedding diamond ring or a luxury watch. It can turn out be a costly affair if you accidently lose any of your jewel or they get damaged. That is why, jewelry insurance coverage is crucial. Following are some simple steps to secure your jewels via insurance.

1. First of all, if you already have renters or homeowner’s insurance, then review the existing policy and make sure that you do not end up double-insuring your valuables. Note down which situations your insurance is covering such as stolen, lost, damaged or destroyed. If you do not have one such policy, then go for a stand-alone insurance.

2. Get your jewels appraised by visiting a certified Gemologist who holds AGS or GIA certification. Ask for appraisal certificate.

3. Go online and obtain free jewelry insurance quotes from multiple companies. Most of the companies provide such quotes for free. Get as many figures as possible to make good comparisons to see which one fits your budget.

4. After choosing the right quote, contact the company and ask for insurance policy. Review the policy thoroughly. Most of the companies provide replace and cash value policy. As per cash value, the company will be paying market worth of damaged or lost jewel. The replacement value policy will pay the replacement costs.