Did you know that 40 percent of marriage proposals occur between Thanksgiving and Valentine’s Day? Not only do you need to decide if you’ll say yes to your partners life-long question, but you’ll also need to consider how to cover this new piece of bling!
Lucky for you, your Nuera home insurance policy covers jewelry under your contents limit up to $15,000 and Renters up to $10,000. If that is not enough, the best way to ensure your jewelry is covered for its full value and for all losses, is to schedule the new piece of sparkle onto your property insurance policy.
When you schedule an item it essentially means the jewelry carries its own "mini" insurance policy. This means it is covered for all losses including mysterious disappearance (like the dreaded sink drain).
In order to schedule your jewelry, you will need a recent appraisal from a certified jewelry appraiser. A typical appraisal includes a detailed description, magnified photographs and a current replacement cost estimate.
How much would it cost to schedule my ring?
Let’s say you acquired this beauty valued at $8000…
To schedule the ring would cost approximately $70/year on top of your existing premium. Pretty cost effective for your peace of mind! The ring is not only covered for its value but also if a diamond falls out - which happens to be the most common jewelry claim made.
Or maybe you’ve inherited a family member’s treasured Rolex appraised at $12,000.
The approximate premium to schedule the watch would be $100/year.
Whether that special someone has finally popped the question with the perfect ring, or you have inherited a priceless family heirloom, take stock of what is in your jewelry box and talk to your Nuera insurance broker to make sure each precious piece is protected today!