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Jewelry insurance claims – know your coverage

January 4th, 2011 · No Comments

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www.stellaradjusting.com

305.396.9110


It’s no secret, Aventura is home to many expensive jewelry shops and residents own plenty of Jewelry. This is the case in cities across South Florida, the beautiful weather allows for showing off necklaces, bracelets, and earrings – people here aren’t covered in jackets and scarfs. The high visibility of these expensive items create a situation in which theft can occur and because jewelry is worn more often there’s a higher chance of pieces getting lost. This is why it’s vital that homeowners understand their insurance coverage when it comes to jewelry.

In most cases jewelry falls under the category of excluded items and there’s typically a low limit to coverage under a homeowners policy. A homeowner must inquire about separate coverage for jewelry. There is a very strict documentation requirement when it comes to jewelry coverage and claims. Here’s a general list of proper documentation that’s need.

The documentation should include, but is not limited to the following:

1. Description of the item
2. Quantity of the item if appropriate
3. The replacement cost/value
4. Where it was purchased
5. Where the item was located in the home
6. Does it need to be repaired or replaced
7. Any supporting documents of ownership and value – photos, receipts, videos, print outs of similar items.

We at Stellar Adjusting Services can review your coverage and give you a better understand of what your potential liabilities are in the event there’s loss or theft.

Here’s a Youtube video that gives an overview explanation:

Read full article on the blog.

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