jewelry insurance

  They are going to be so excited about the expensive gifts when they open them, don’t forget to protect them in case something happens! Things do happen. Not always on purpose, but things do happen.  What if you lost one of the new diamond earrings your husband bought you? What if your new computer was stolen out of your car?   Things you should know about insuring gifts. Contact your insurance agent to learn what is covered under your current policy and what might need to be added to the policy. If the gift is given to someone you live with, the simplest way to insure it may be by adding to your homeowners or renters coverage in your policy. Standard policies cover belongings which are damaged or stolen, but valuables such as furs, art and jewelry, are typically limited. This is called a “scheduled” rider, floater or endorsement to your policy. You will need the bill of sale or certified appraisal to cover the gift.  Ask if your new gift will gain value. Art and heirlooms that appreciate in value would be best under special coverage or rider on your policy. You will need an appraisal every...