Amherst, MA (PRWEB) February 07, 2013
This is the time of the year when most women are “casually” leaving the dog-eared jewelry store catalog open on the coffee table, and men start scrambling for the perfect proposal idea and, of course, the perfect ring. There is a lot of pressure riding on this life-changing event, not only because of the potential life investment involved, but also because of the monetary investment involved.
Many people believe that their homeowners insurance policy protects such costly possessions as jewelry. However, in the event of a loss, those folks are often surprised. Usually, should something happen to a piece of jewelry, home and renter’s insurance policies only allow consumers to collect a fraction of the piece’s value, leaving the consumer to foot the rest of the bill for a replacement.
A Jewelry Insurance policy, also known as a Jewelry Floater policy and a variant of Scheduled Property coverage is a very good solution. Such a policy will allow a buyer to schedule their valuable family heirlooms, watches, and even a brand new engagement ring so that, in the event of a loss, they might be able to collect the full market value of the piece. Typically, a jewelry floater policy will help protect a buyer from the loss of theft and even the loss of a gem stone.
It is important to speak with an independent insurance agent before the purchase of a jewelry insurance policy and after the purchase of a valuable piece of jewelry. There are some additional things that the average person may not know about this type of insurance, such as the necessity to provide an appraisal of the jewelry that was completed within the last 3 years to ensure that coverage is accurate.
The agents at Encharter Insurance would be more than happy to address queries about insurance for engagement rings and other pieces of jewelry. Call today at 888-865-1244 or visit http://www.encharter.com for more information.
Encharter Insurance is an independent insurance agency bringing personal and commercial insurance products to the residents of Massachusetts and Connecticut.