What kind of jewelry appraisals and insurance coverage offer the best protection in cases of jewelry theft?

The three main things that can leave you open to jewelry theft are:

1. Careless security.
   
2. Inadequate insurance coverage.
   
3. Bad judgment.
   

Millions of dollars worth of jewelry are stolen every year, but there are things you can do to minimize your chances of jewelry theft, as well as the damages that jewelry theft can cause. Jewelry appraisals are a very important prerequisite prior to getting an insurance policy for your jewelry. In addition, jewelry appraisals are the key to making sure that your insurance claim goes through fairly and relatively quickly, so that you don't have to worry about any expenses that your insurance doesn't cover in cases of jewelry theft. Prior to purchasing a piece of jewelry, be sure to ask the salesperson at the jewelry store whether you'll get a written appraisal for the piece you wish to buy. Even if the piece of jewelry does not come with a written appraisal, request all the written documentation available for that particular jewelry item. Professionals recommend that jewelry be re-appraised every few years (generally between every two and five years). Due to the changes of jewelry and precious metal prices over time, it is crucial that your jewelry appraisals be up to date. Many insurance companies will gladly recommend jewelry appraisers that will assess your jewelry fairly. Just be sure to inquire whether the jewelry appraiser is a certified gemologist and what his / her area of expertise is – diamond jewelry, vintage jewelry, etc. The best type of jewelry appraisal to have in case of jewelry theft is a replacement cost appraisal. This sort of appraisal substantiates the jewelry design, genuineness, and value of your jewelry. In addition, if you would like to be sure that your insurance policy will cover you for the complete amount of your jewelry, then you should purchase an endorsement for the value at which it has been appraised.

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After appraisal, you need to decide on jewelry insurance. With the right insurance coverage, you can rest assured that you'll be reimbursed if your jewelry is lost or stolen.
The following factors will help you decide what kind of insurance coverage you need for your jewelry:

• How much is your jewelry worth?
  
• Where do you store your jewelry?
  
• Do you travel with your jewelry?
  

Many insurance companies advise their clients to get valuable articles policies (aka itemized coverage). These insurance policies provide detailed itemization of your jewelry in terms of both description and value. That way if you are a victim of jewelry theft, you won't have to be troubled with proving that you are the owner state or about the state of your jewelry. When you decide which insurance policy you want to get, be sure that you choose one that covers jewelry theft, breakage, and loss. I wouldn't recommend relying on your homeowner's insurance when it comes to jewelry theft. You'll have to pay an extra fee which can be really expensive if you want your homeowner's insurance to include your jewelry. In most cases, these insurance policies also do not cover jewelry loss or breakage. If there are pieces of jewelry that you don't wear very much, it would be a good idea to keep them locked in a safe deposit box. Most insurance companies reduce the price of the policy if your most costly pieces of jewelry are kept in a safe outside of your home since this certainly minimizes the chances of jewelry theft.

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