There may be situations where you might require jewelry floaters. If you happen to own a significant amount of valuable jewelry that is worth thousands, consider insuring it. A majority of homeowners policies offer only between $1500 and $2500 when it comes to jewelry coverage. Further, homeowners policies might limit coverage because of damage after either a theft or loss has been covered. Such policies sometimes include loss of jewelry coverage, too (for instance, removing a wedding band while at a beach, than misplacing it within the beach’s sand).
You have the ability to pick how your jewelry will be insured. Your insurance agent will either provide reimbursement for a missing ring (where you will get a check that covers either the replacement or cash value of the item) or replace your jewelry with a piece that is identical. If you would like to replace an item that you treasure, your insurance company may ask you for the following:
- Appraisals.
- A photo.
- Descriptions.
- Receipts.
These might not be sufficient, though. You needn’t concern yourself with remembering every little detail to provide a jeweler with when replacing lost items.