Insurance For Your Wedding Rings
Did you know that June is the most popular month for weddings?
I’ve seen many of my clients planning weddings over the next few weeks. So I thought I’d share an insurance tip this week just for engaged couples and newlyweds.
You’re spending a lot of money on your wedding and those new rings. Make sure they’re covered!
Jewelry is covered under your Homeowners or Renters insurance. But the coverage amount can be limited. If you don’t cover the individual piece of jewelry specifically, you might not have enough insurance if it were to be lost or stolen.
Here’s what I recommend. Get an appraisal of your rings from the jeweler. Then bring in a copy and we’ll add the rings to your policy. (We can also discuss deductibles or special coverage.) Depending on the value of the ring, you might spend only a few dollars a year to know that your valuable jewelry is insured.
If you are renting or getting ready to purchase a home and don’t have a policy, now is a great time to schedule a free consultation to discuss what coverage you’ll need and give you a ballpark figure for what it will cost. Renters Insurance is very inexpensive and can give you a lot of peace of mind as you combine your two households.
But the best tip I can give? Get a local insurance agent you can trust! We’ll look out for you and help you get the right coverage at an affordable rate. Call today for a free quote.
Fact or Fiction? Only some renters need renters insurance.
If you are currently renting your home or apartment, it’s time to learn more about renters insurance!
Homeowners insurance covers the house itself and the items inside. But if you don’t own the home, you don’t need insurance to cover it. All you need is coverage for your actual personal belongings.
It might not seem like a lot, but all those little items add up! When you think about the cost to replace your furniture, dishes, sheets, clothes, books, and everything else filling up your home, it’s probably a lot more than you thought.
Renters insurance is an affordable way to protect what you’ve worked hard to acquire. And it’s probably a lot cheaper than you’d expect! In fact, many times the discount you receive on your auto insurance for having multiple policies can almost pay for the entire renters policy!
Renters Insurance will cover personal belongings within your home as well as a limited amount of property off premises (such as items in a storage building) or your laptop when it’s in the car.
It also includes important liability coverage. If you accidentally cause a fire that burns down the property, your insurance pays the landlord to replace it (protecting you from a damaging lawsuit). In fact, many landlords now require that tenants carry a certain amount of liability insurance before they approve the lease.
So if you’re renting, it’s time to look at protecting your valuables. Give us a call today and ask for a no obligation quote on renters insurance. And don’t forget to find out how much you’ll save on your auto insurance too!
Scheduling Jewelry On Your Insurance Policy
Last month was Valentine’s Day and proposals happened everywhere! This means that you might find yourself with a new diamond ring or expensive piece of jewelry in your home.
Many people spend thousands of dollars on beautiful jewelry but don’t take the time to find out how to insure it. And this can be a big mistake!
Have you seen the Farmers Insurance TV commercial regarding jewelry?
If you have homeowners or renters insurance, then your jewelry is covered as part of the contents of your home. But there can be problems…
1. We don’t know what it is worth. It’s hard to get the full value of your jewelry back if you don’t know all of the specifics! Weight, color, cut, size, and so forth are all factors in the value. Ten years from now you might not even remember how much you paid.
2. You probably have a large deductible on your homeowners insurance, this deductible applies to the house itself as well as contents coverage. Many insurance policies have limits for theft of specific highly targeted items including jewelry.
But there is a simple solution to avoid all of these problems. Our homeowners and renters policies allow you to “schedule” jewelry for a small additional cost.
You bring in the receipt and appraisal of the item and we add all of that information to your policy. (Sometimes we don’t need all of this, just call us first and we can let you know.)
You will be charged based on the value of the item, but typically it’s less than $50 per year! (Sometimes much less, sometimes a little more. It all depends on how much insurance is required.)
Plus, scheduled items don’t require a deductible. So if your ring is lost or stolen, you pay nothing out of pocket but get to replace your precious jewelry.
So next time you open a jewelry box and put a sparkling diamond on your finger, make sure that you are insuring your investment.
Have questions about scheduling items on your homeowners insurance? Call us today at 816-795-5977 or email firstname.lastname@example.org for assistance!