Tips for Insuring Jewelry

Tips for Insuring Jewelry
by KYW’s Hadas Kuznits

People who may be getting expensive gifts of jewelry for Valentines Day are being encouraged to get insurance.

Jeanne Salvatore with the non-profit Insurance Information Institute says people who want to insure their jewelry can choose either a blanket policy or a specific policy or both:

“Generally with jewelry, you’re gonna be covered for about $1000-2000 worth of jewelry. So if you have something that is a much higher value, what you need to do is to get a floater, which is a specific or separate policy for that item.”

She says items that might warrant a separate policy include diamond rings, gold watches, cufflinks or anything that would be too expensive to replace:

“It’s far cheaper to insure something than it is to re-buy something.”