As we are all familiar with the world famous Kardashian family, you may not know that Kim Kardashian herself once lost a diamond earring in the Tahitian ocean worth $75,000! Luckily, the star had insured her piece of jewelry. Here are some great reasons to have your own beautiful gems insured.
Risk of Jewelry & Gems Breaking
Whether you inherit a beautiful heirloom or have purchased a new piece of jewelry for yourself, the possibility of breakage or loss is always there, for example:
- A clasp breaks
- Diamond falls out of mount
- Integrity is ruined by fire damage
Since jewelry is meant to be worn, don’t risk having a valuable piece of gems uninsured. Wear your jewelry with confidence, besides, that’s the whole point in the first place!
Jewelers Don’t Provide Insurance
No wonder Kim Kardashian was worried about her $75,000 earring. Even the stars have to go through the process of getting their own jewelry insured further than the jewelry counter. With insurance, if something happens to your jewelry, it can be completely replaced.
Your Gems Have a High Risk of Being Stolen
You can never really trust hotel safes or even that secret hidden vault behind a painting in your home. Jewelry thieves are professionals at knowing how to crack locks or maybe even the not so obvious hiding spots. It is worth taking the extra step with insurance to have some peace of mind.
Not All Insurance is Created Equal
As having Homeowners Insurance is just as important, there may be limiting factors as far as valuable items go. It’s important to find a policy designed just as perfect as the jewels you wear around, in fact, be sure all of your jewelry has an updated appraisal. Over time jewelry gains value, if your policy is only accounting for a piece that was appraised ten years ago, then you may not be fully covered down the line if something happens to it. If your jewelry is worth more than the built in limit then your insurance will only cover to said limit. To get what we call a ‘rider’ to cover the extra value, insurance companies require a qualified appraisal.
Dexter & Co. values you as much as you do your gems & jewels, contact us to see about having your most precious items insured.
Read more about our personal insurance products and contact us today with any questions that you may have.
