Washington Insurance Council

                  Consumer Alert

Contact: Karl Newman, President
Darrin Sanger, Communications Director     

Washington Insurance Council    
Phone: (206) 624-3330
Fax: (206) 624-1975
karl.newman@wiconline.org
darrin.sanger@wiconline.org

Jewelry insurance will keep special gifts protected

SEATTLE - Giving the perfect jewelry gift to a loved one can be a priceless experience. If the jewelry isn't insured, however, it can cost you a lot to replace it.

"Most homeowner's policies have some jewelry coverage," said Karl Newman, WIC president. "However, if you've purchased jewelry or other items of special value such as furs, cameras, musical instruments, coins or fine arts, the included coverage is limited and may not meet your needs."

Typically, homeowners' policies protect jewelry against losses from causes such as fire, theft and windstorm, generally from $1,000 to $2,000 for all jewelry owned in the household.

To insure your jewelry to its full value, you can purchase special coverage to insure the item for its appraised value with no deductible. This coverage also insures against lost stones or damage caused in catastrophes such as external flooding or earthquakes. Contact your insurance company or agent for help in evaluating your needs.

The Washington Insurance Council offers the following tips to help you enjoy your new jewelry for many years to come:

• Examine your jewelry periodically for signs of damage or loose stones.
• Have your jewelry cleaned and checked annually. Many jewelers guarantee the safety of a stone if you have regular checkups.
• Keep a video, photographic and written inventory of all personal property, including jewelry, and keep receipts for all high-value items. This simplifies your insurance claim if you do have a loss.
• Talk with your insurance company or agent to research extra coverage that will give you broader protection.

Washington Insurance Council is a nonprofit, consumer education organization funded by member insurance companies.

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