Questions to Ask Your Insurer

Before having your jewelry appraised for insurance, ask your agent the following questions. Knowing the answers will not only help to better protect your valuables, but also give you peace of mind.

· Do I really need a separate jewelry rider?

· What is my standard deductible without a rider?

· How are claims paid? In reimbursement (cash) or replacement (a similar jewelry item)?

· Will I be able to select my own replacement item?

· Is my jewelry covered only for theft, or is damage also covered?

· What if I’m not sure when or where I lost my jewelry (“mysterious disappearance”)?

· What if I bear any negligence in the loss or damage?

· Are there exceptions or exclusions?

· Is there depreciation of my jewelry?

· What do you consider a qualified appraisal/appraiser?

· Is my receipt acceptable for insurance?

· Is there a “pair and set” clause, meaning that if one half of a pair or part of a set is lost or damaged, the insurer is not required to pay for the whole set, but rather a reasonable percentage of the whole value?