Jewelry Insurance Costs

Why Jewelry Insurance Is Important

The final jewelry insurance cost varies quite a bit depending on the value of the item being insured. For most items being insured in most areas of the United States, the cost of jewelry insurance is around one percent of the value of the item per year. For example, a diamon necklace valued at $10,000 would cost $100 a year to insure. This is a small price to pay to know that your valuable jewelry is safe and protected. Here are some of the reasons to consider adding the required jewelry insurance cost to your insurance policy.

Preserve Memories

Jewelry is often associated with precious memories, which is all the more reason to protect it with insurance. The money you get from your insurance agency after filing a claim can be used to replace or repair a piece of jewelry with as similar a piece as possible.

Wear Jewelry Without Fear

With jewelry insurance you can wear your favorite items anywhere rather than keeping them locked up most of the time. Insurance lets you enjoy your jewelry without worrying about losing your valuable investment.

Protect Your Investment

The value of most pieces of jewelry increases over time. This means that even if you don’t wear your jewelry often it is a good idea to insure it so that it can continue to grow in value.

 

 

photo credit: Wedding rings (license)