Learn how to protect your most precious pieces of jewelry, from an engagement ring to a family heirloom.

What would you do if you damaged a priceless family heirloom? What if you lost your engagement ring? How would you cover the cost of repairing or replacing such important, beautiful pieces? It’s hard to imagine these situations, but there is a way to protect your favorite jewelry in case of damage, loss, or theft.  

The Simple Way to Protect Your Favorite Jewelry

April 24, 2017

Protect your priceless pieces of jewelry by getting them appraised and insured. Redstone members can receive Redstone Discounts! on appraisal services at Klos Diamond Center.

What would you do if you damaged a priceless family heirloom? What if you lost your engagement ring? How would you cover the cost of repairing or replacing such important, beautiful pieces? It’s hard to imagine these situations, but there is a way to protect your favorite jewelry in case of damage, loss, or theft.

You may think your jewelry is protected by your traditional homeowners insurance, but there are many stipulations and details to be aware of. Most homeowners insurance policies limit the amount you can claim in regards to jewelry. Plus, your deductible could end up being more than the jewelry is worth!

Homeowners policies generally only cover named perils. This means your jewelry is only covered in certain situations listed on the policy. This usually includes coverage against theft, storm, or fire damage.

But what if you lose an important piece of jewelry? What if a stone falls out or an expensive clasp breaks? What if you accidently ruin or break your favorite ring or necklace? These types of situations can be covered if you have a separate jewelry insurance policy.

A jewelry insurance policy will protect your precious pieces from any type of harm. These policies can be all-perils policies and cost very little compared to the cost of what you’re insuring.

Before you insure your jewelry, you will need an appraisal to ensure your policy is for the current value of your jewelry. Before you go to an insurance agent for a jewelry policy, you’ll need an appraisal. An appraisal gives the insurance agent a qualified, recent, and honest account of the jewelry’s worth, making sure you receive the full value if you were to ever need the insurance. An appraisal should be no more than five years old to ensure you’re receiving the current full value for your jewelry.
Photo provided by Klos Diamond Center

Once your policy is created, the amount of coverage will rise along with the rate of inflation, so there’s no need for new appraisals unless you change insurance providers.

Receive Redstone Discounts! of up to 30% on jewelry appraisals at Klos Diamond Center.Time to get your favorite ring or cherished family locket appraised? Head over to Klos Diamond Center to receive Redstone Discounts! of 25-30% off with your Redstone debit or credit card on any appraisal you need. Whether it’s a watch, ring, bracelet, or earrings, owner and 2nd generation gemologist Read Klos can give you a written, detailed appraisal of your pieces along with a photo. This ensures your insurance policy is created for the full, current retail value of your piece.

Jewelry is more than a fashion statement—those precious pieces in your jewelry box represent memories, moments, and loved ones. Appraise and insure your jewelry for the peace of mind that comes from knowing your most valuable treasures are protected.

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Equal Housing LenderThis credit union is federally insured by the National Credit Union Administration.

Redstone is an Equal Credit Opportunity Lender.

This content is provided for informational and educational purposes only and considered accurate as of the date posted. Views and opinions expressed in comments do not constitute an official endorsement by Redstone Federal Credit Union® or its affiliates. Redstone encourages you to seek professional advice for your personal situation before making any financial decision and is happy to assist you at any of our branch locations.

Must be RFCU® member to obtain or use any product or service. Must open a share savings account to join RFCU. A $5 minimum balance is required to open a share savings account and must be maintained in the share savings account at all times. Age and other restrictions may apply.

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